CHAPTER 6 - STORING AND ISSUING CONTROLS


Directs and stores
-          Directs are charged to food cost as they are received, on the assumption that these perishable items have been purchased for immediate use.
-          Stores described as consisting of staples.
-          When purchased, these foods are considered part of inventory until issued for use and are not included in cost figures until they are used.

Storage system goals
v  To determine the value of goods held in stock
v  To compare the value goods actually in the stores at particular time
v   To list slow moving items
v  To compare the usage of food with food sales, to calculate food % and gross profit
v  As a deterrent against loss and pilferage

Inventory turnover
}  Inventory turnover is a measure of the number of times inventory is sold or used in a time period such as a year.
}  Inventory turnover rate is calculated by means of the following formulas:
}  Average Inventory = Opening inventory + Closing inventory
                                                                                    2                                 
}  Inventory turnover =     Food cost  
                                 Average inventory

Physical and perpetual inventory control systems
         Perpetual Inventory - Running record of balance on hand for each item of goods in a storeroom.
         Provides a continuing record of food and supplies purchased, in storage, and used.
         Physical Inventory - An actual account of items in all storage.
         Taken at the end of each month, in orders two or three times a year.
         Used to determine food cost.

Bin cards
}  A document that records the status of a good held in a stock room.
}  A typical retailing business with a large stock room will use a bin card to record a running balance of stock on hand, in addition to information about stock received and notes about problems associated with that stock item.

 Controls for issuing products from storage
         Condition of facilities and equipment
         Arrangement of foods
         Location of facilities
         Security of storage areas
         Dating and Pricing of stored foods

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