Purchasing Vocabulary GLWPar ValuePar ValuePar Value
Perpetual Inventory
Inventory conducted through the use of handheld devices and a POS system that produces a comprehensive cost analysis.
Supplies
Items purchased by a restaurant to stock or furnish the business—usually food and beverages but can also be kitchen utensils, furniture, appliances, and so forth.
Cost Control
Keeping budgeted costs as close as possible to actual costs.
Cost of Goods Sold (COGS)
A formula to determine the cost of materials to produce the cuisine served at your restaurant.
Par Value
Amount of each item you want to have in stock at the beginning of meal preparation each day
Traditional Count
Counting items by sight and by hand (also known as periodic inventory).
Loss
Products, supplies, or even money that is not recoverable due to accident or theft.
Inventory Costs
The cost of inventory as it relates to your purchase prices for goods. Be sure that your computer system refl ects accurate purchase prices.
Plating/Pour
The per plate or per pour pricing you have on your menu.
Inventory
The practice of counting and recording stock items.