Capcon specialises in mitigating inventory risk for major events. We offer professional stock controls, independent audits, and expert advice to enhance profitability and operational efficiency.
Effective inventory management is crucial for the success of any hospitality business, especially when it comes to major events such as concerts, conferences, and sporting fixtures, including horseracing, football, rugby, golf, cricket, and motor racing. Inventory risk can have a significant impact on operations, customer satisfaction, and overall profitability. To tackle the challenges faced by event organisers, including varying revenue streams, temporary stock storage, and a range of sale facilities, a specialised and diverse skill set is required to maintain consistent stock controls at events.
Inventory risk refers to the possibility that a company may encounter difficulties in selling its supply of goods or experience a decline in the value of its inventory. Given the complexity of managing event stock, businesses must allocate sufficient time and resources to mitigate the risks associated with inventory management.
Key risks in stock management include:
• Inaccurate forecasting: Failing to order and sell the right quantities of inventory stock.
• Loss: Decreasing stock levels and, consequently, profits.
Damage: Resulting in waste due to inventory spoilage or destruction.
• Product lifecycle: Accumulating obsolete stock that cannot be sold.
• Theft: Particularly concerning high-value inventory items.
• Shelf life: Perishable items pose a greater risk as they have a limited lifespan.
• Unreliable suppliers: Can lead to production delays, stockouts, and customer dissatisfaction.
To ensure event organisers achieve maximum profit margins, it is essential to utilise all available products and capitalise on every sales opportunity. This is where the expertise of an independent professional, knowledgeable about the industry, becomes invaluable.
Capcon offers experienced auditors specialising in the hospitality field. Our professionals provide guidance on how to optimise profits from the ground up. By working onsite, we establish structured processes to regulate operations, offer in-depth independent customer insights, and provide recommendations for improvements across all aspects of the business, including inventory preparation and par levels, as well as gross profit analysis.
Additionally, we offer a range of employee screening services to ensure the protection of your business and your patrons.
To learn more about how Capcon can help you mitigate inventory risk, enhance profitability, and ensure the success of your major events, please request a call back. Our team is ready to assist you in achieving optimal stock control and maximising your business’s potential.