Benefits

There are four benefit areas to tracking inventory:

1. Tax benefits- liquor should never be a “loss”. All liquor costs should be itemized as marketing expenses and written off against profits as such.

2. Labor costs of counting- management labor isn’t cheap, and while they’re counting, they’re not managing. The Smart Bar Scale allows anyone to use it because the device displays no data- everything is sent to the cloud.

3. Bank financing due to efficiency- What is your Liquor Efficiency Rate? For every $100 spent on liquor, what revenue do you expect? How close are you to your LER number? Banks prefer to lend to reliable entities, and a few basis points on a loan could be worth many thousands of dollars.

4. Marijuana legalization- in states where marijuana has been legalized, liquor consumption has gone down. Inventory controls need to be tighter to make up for reduced volume.