Inventory risk can have a major impact on operations, customers satisfaction and profitability for any hospitality business.
This is especially true for major event organisers who must deal with numerous challenges including varying temporary and fixed revenue streams, temporary stock storage and a range of sale facilities. It therefore takes a diverse set of skills to ensure all stock controls are consistently in place at events.
Inventory risk is the possibility that a company will be unable to sell its supply of goods, or that its value will go down.
With all the moving parts in event stock management, businesses must invest time and resources into reducing the risks associated with carrying inventory stock.
Stock management risks include:
To ensure event organisers obtain the maximum profit margins, they need to ensure that they are utilising all the products they have on offer and capitalising on every possible opportunity for a sale. This is where an independent professional, who truly knows the industry, can help.
Realtime visibility helps to enhance productivity and supports businesses to be more efficient. Regular spot checks, and independent, objective compliance reviews are essential for businesses in the events sector in helping to mitigate inventory risk and boost profitability.
Capcon provides experienced auditors in the hospitality field who will advise on how best to maximise profits, from the bottom up.
Working onsite, we put structure in place to regulate operations, provide in-depth, independent customer insights and advise on any changes that would help all aspects of the business, including prep and par levels and GP analysis.
We also offer a range of employee screening services to ensure your business and your patrons are adequately protected.