An inventory is a storehouse of all the items possessed by the hotel and is the backbone of the hotel operations. The inventory is an asset for any business and managing it is very crucial for the hotel to be efficient.
Inventory management is the discipline of maintaining a database that consists of all buying, selling, and consumption activities of a property that acts as an extraordinary source of business information and helpful for decision making. The data from the Inventory management system helps to keep a check on the efficiency of the hotel, minimize fraud, reduce pilferage, and maintain uninterrupted supply.
The span of technology brought with itself automation in the hospitality industry. One such was the ways the inventories are managed. Now, an automated inventory, as in HotelDesk, requires lesser work but provides greater stock visibility, reminds as and when stock levels go down, helps to manage multiple vendors at ease and has an entry of each purchase, and helps to decide prices and assures an efficient stock maintenance throughout the operation.
Vendor - Store Interactions
A list of necessary items to be purchased is logged into the system through the Purchase Order feature and the details are automatically sent to the corresponding vendors through e-mail/SMS. These orders can also be reserved for approval by the managers through the Purchase Approval feature that enables the managers to edit, reduce or add more items to the order. Once the order is complete and the purchased goods reach the hotel inventory, the list is available in the Purchase Entry feature along with the bills of the vendors. The Purchase Return feature contains details of the goods returned if found inconsistent. The payments to the vendors can be tracked with the Payments feature and wasted items be tracked using the Wastage Entry feature.
Store - Department Interactions
Indents from the hotel departments containing requests for required quantities are sent to the store through the Request Indent feature and the items supplied by the store are listed under Issue Indent. The Return Indent feature contains the unused/expired items returned to the store from the departments which help in avoiding wastage.
HotelDesk also supports a Central inventory and Floor-wise inventories to maintain buffer stock in required quantities at all the operational points of the hotel. Reports can be accessed anytime from the readily available system. Thus, the Inventory management module simplifies the hotel functions to a large extent and ensures accurate tracking of purchase and sales data.