8 Best Restaurant Inventory Software In 2024

Restaurant inventory management is one of the most important parts of any restaurant business. The right restaurant inventory management software can help you track and monitor the stock levels of your ingredients so that you can maximize profits.

While some restaurant inventory management software is free to use, it's worth considering a paid option that offers more features and functionality. We've compiled the 8 best options available on the market to help you choose the best one for your business.

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What is Restaurant Inventory Software

Software specifically made for managing restaurant inventory counts, tracking food expenses, reducing food costs, and streamlining the ordering and order management procedures is known as "restaurant inventory software" or "restaurant inventory management software." The restaurant inventory management software can be installed locally on a computer or server or it can be cloud-based, making it accessible from any device with an internet link.

1. Real-Time Inventory Management

Real-time inventory monitoring is one of the primary functions of restaurant inventory management software. This enables restaurant owners and managers to keep an eye on inventory counts and inventory tracking in par levels, as well as plan menus and make informed choices about purchases. Additionally, the software can monitor food waste and spoilage, which can lower food costs and boost productivity.

2. Recipe Costing

Recipe costing is another essential component of restaurant inventory software. This makes it possible for companies to keep track of the price of each ingredient used in a recipe and determine the final food costs of the meal. This data can be used to control food costs, find profitable menu items, and adjust menu pricing.

3. Tools for Ordering and Buying

Software for restaurant inventory management may also include tools for ordering and buying. For easier ordering, this can incorporate integration with vendor catalogs, automatic purchase order generation, and inventory alerts for low supply levels, which is also a part of vendor management.

4. Menu Management

Menu management tools, which often incorporate the crucial aspect of menu profitability, are included in some restaurant inventory management systems. These systems enable companies to swiftly update and manage their menu items and pricing, with a keen focus on enhancing the profitability of each menu item.

5. Custom Reporting for Enhanced Decision-Making

‍A significant addition to restaurant inventory software is the capability for custom reports. This feature allows for the generation of tailored reports that provide deeper insights into inventory trends, cost analysis, and profitability. Custom reports enable restaurateurs to make data-driven decisions, optimizing their operations based on specific metrics and trends observed in their business.

In general, a restaurant inventory management system is a crucial resource for any food service operation seeking to increase productivity, cut waste and expenses, particularly in managing the cost of goods sold (COGS), and simplify its inventory management procedures.

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8 Best Restaurant Inventory Management Software

1. MarketMan

MarketMan is a cloud-based inventory management software that offers real-time tracking of inventory for food and beverages, as well as menu planning, automated order administration, and recipe costing. MarketMan is a popular option for restaurants of all kinds because of its user-friendly interface and extensive features.

• ‍Pros: Easy to use, excellent customer support, real-time stock tracking.‍
• Cons: Limited reporting capabilities, pricing can be expensive for smaller businesses.‍
• Reviews: 4.5/5 on Capterra, 4.6/5 on G2.‍
• Pricing: From $127/month.

2. Restaurant365

Restaurant365 is a cloud-based restaurant inventory software that provides a full range of tools for inventory tracking, analytics, and operations management. The goal of Restaurant365 is to help restaurants increase productivity and revenue. For restaurant accounting, operations administration, inventory monitoring, and analytics, it provides a complete set of tools.

• ‍Pros: Broad feature set, real-time data, and analytics, excellent customer support.‍
• Cons: Expensive, steep learning curve, limited integrations.‍
• Reviews: 4.3/5 on Capterra, 4.4/5 on G2.‍
• Pricing: From $399/month.

3. Craftable

Craftable is a cloud-based restaurant inventory management system made for establishments that serve food, including bars, restaurants, and other types of eateries. A variety of features are available for meal planning, recipe pricing, and an advanced inventory management system.

• ‍Pros: User-friendly interface, comprehensive functionality.‍
• Cons: Limited reporting capabilities, learning curve is steep.‍
• Reviews: 4.5/5 on Capterra,  4.1/5 on the G2.‍
• Pricing: Based on the unique requirements of each company.

We are proud to say that 5-Out is a partner of MarketMan, Restaurant365, and Craftable!

5-Out is a sales forecasting software designed for restaurant owners and managers. Restaurants can increase their productivity, cut waste and costs, and simplify their inventory and sales forecasting procedures by utilizing both 5-Out and MarketMan. Using POS data, reservations, weather patterns, traffic, and other variables, 5-Out provides precise sales forecasting that enables companies to get insights about labor optimization and inventory management. When combined, MarketMan and 5-Out offer a complete solution for restaurant inventory management and sales forecasting, assisting companies in streamlining their processes and boosting profitability.

Request a demo to see how 5-Out and MarketMan can help you manage inventory!

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4. BevSpot

BevSpot is a cloud-based restaurant inventory management software that provides order administration, reporting, and real-time tracking of beverage inventory. Smartphone software is also included for convenient inventory monitoring while on the go.

• ‍Pro: Simple to use, great monitoring features, mobile app accessibility.‍
• Cons: Limited compatibility with other restaurant pos systems, only for beverage inventory management.‍
• Reviews: 4.3/5 on Capterra, 4.4/5 on G2.‍
• Pricing: From $0!

5. Upserve Inventory

Upserve Inventory is a cloud-based inventory management system that offers real-time tracking of inventory, recipe costing, and order management tools. It also features a mobile app for easy inventory tracking on the go.

• ‍Pros: Easy to use, integrates with other Upserve products, robust reporting capabilities.‍
• Cons: Limited integrations with other restaurant POS systems.‍
• Reviews: 4.4/5 on Capterra, 4.4/5 on G2.‍
• Pricing: From $189/month.

6. ChefMod

For modest food service businesses, independent restaurant proprietors, and full-service eateries, ChefMod is an online recipe and buying lifecycle management system. Access to the cloud-based option is possible from laptops, desktop computers, and other mobile gadgets like cell phones and tablets. Additionally, ChefMod provides native smartphone applications for iOS and Android. The software can be used to handle supplies, settle bills, and place orders in a safe environment while streamlining eatery operations.

• ‍Pros: Easy to use, excellent customer support, robust reporting capabilities.‍
• Cons: Limited integrations with other POS systems, can be expensive for smaller businesses.‍
• Reviews: 4.8/5 on Capterra, 4.6/5 on G2.

7. Optimum Control

Optimum Control is a cloud-based inventory management software that offers real-time tracking of inventory levels, recipe costing, and menu management tools. It also features a mobile app for easy inventory tracking on the go.

• ‍Pros: Excellent reporting capabilities, mobile app available‍
• Cons: Complex or difficult to use.‍
• Reviews: 4.6/5 on Capterra, 4.6/5 on G2.‍
• Pricing: From $125/month.

8. CrunchTime

CrunchTime is a cloud based inventory software that provides inventory management, labor management, and food costing solutions. It is designed to help restaurants optimize their operations, reduce costs, and increase profitability.

• ‍Pros: Comprehensive functionality, real-time data and analytics, scalable.‍
• Cons: Expensive pricing, limited integrations.‍
• Reviews: 4.2/5 on Capterra, 3.6/5 on G2.‍
• Pricing: Request for detail.

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Pick A Restaurant Management Software

For restaurant managers and owners, the choice of the best restaurant inventory management software is not just important – it's a game-changer. By employing the right software, you can streamline your processes, minimize waste, and substantially boost your profitability.

When exploring options for restaurant inventory management software, it’s crucial to weigh the features, pricing, and customer support each provider offers. Look for systems that incorporate AI and Machine Learning – these technologies significantly improve inventory forecasting by analyzing patterns and predicting future needs more accurately. This advanced inventory forecasting not only ensures optimal stock levels but also aids in preventing overstocking or understocking.

Upon selecting a suitable restaurant inventory management system, integrate it with 5-Out sales forecasting software to maximize your business growth. 5-Out uses AI-driven analytics to deliver enterprise-level reports and insights, enhancing labor scheduling and inventory optimization. It provides precise sales forecasts by analyzing internal sales data, reservations, weather patterns, traffic, and other critical variables, all through an AI-powered lens. It can help you minimize labor costs, food costs, and waste, and further maximize your profits!

By combining your chosen restaurant inventory management system with 5-Out's AI-based sales forecasting, you unlock a powerful synergy. This integration enables you to streamline operations, reduce costs, and enhance your bottom line. AI's predictive abilities in 5-Out not only offer insights into current trends but also forecast future demand, allowing for more informed decision-making.

Why wait to harness these innovative technologies? Embrace the advanced capabilities of AI and Machine Learning in your restaurant inventory management today. Start propelling your business towards greater efficiency and profitability with these cutting-edge software tools.

Request a demo to obtain powerful insights into labor and inventory management!

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