Chris Fletcher

The Best Restaurant Inventory Management Software in 2024

The competitive and ever-moving restaurant industry has to adapt to consumer preferences and innovative technologies continuously. In 2024, the need for powerful inventory management solutions has become pivotal for anyone working in hospitality. 

As a restaurant owner or manager, falling behind the curve can have devastating results, so we’re here to help you balance the challenges of inventory control, cost management, and operational efficiency. 

From streamlining procurement processes to optimising stock levels and reducing waste, the best restaurant inventory management software in 2024 offers comprehensive solutions to help establishments thrive in a competitive market landscape. 

We’ve put together a list of the best restaurant inventory management software for 2024. Reviewing the different features on offer can help you decide which system is best suited for your restaurant's needs. 

The Best Restaurant Inventory Management Software  

Peckish 

Peckish Restaurant Inventory Management Software

Peckish is a collaborative planning and inventory management platform designed for restaurants and suppliers to reduce waste and improve profits. The robust inventory management platform allows you to save precious time and maximise your day-to-day efficiency. 

Stock management is pivotal to the long-term sustainability of a restaurant. With Peckish, all incoming and outgoing items are automatically tracked via computer vision technology. No longer will you have to worry about missing items or unsolved discrepancies. 

Peckish makes it easy to foster and develop lasting supplier relationships - always receive the correct ingredients at the right time for the right price. 

With a user-friendly and intuitive platform, you can effectively improve your day-to-day operations 

Peckish’s best features 

Inventory management: Boost your inventory management efficiency with automated tracking of stock and instantly find and resolve any issues. 

Forecasting: Peckish has industry-leading “demand sensing” tech that combines historical data and external data to forecast future demand with an accuracy of over 95%. 

Supply chain management: The supply chain management features help guarantee seamless communication with suppliers and consistently accurate ingredients delivered on time. 

Integrations: Effortlessly integrate with other restaurant systems you already have in place such as POS systems, delivery systems, HR systems, CRM systems and more. 

Pricing 

For accurate pricing information, you will need to contact the sales team and request a quote. 

growyze

Growyze Inventory Management Software

growyze is a powerful inventory management software system designed to support those in the hospitality industry. As a restaurant owner, the growyze software provides precise and informative stock control systems that can help you improve your efficiency and management systems. 

growyze makes loss prevention easy via innovative technology that solves complex but common problems within their day-to-day operations. The platform functions as a single hub for inputs, processes and restaurant insights across inventory control, accounting and gross profit. 

With growyze, you no longer have to manually create spreadsheets to track and manage your inventory. You can effortlessly automate the counting of stock, invoice reconciliation, and discrepancy detection. 

All invoices are automatically scanned and discrepancies are quickly identified between orders, invoices and deliveries - making your life as a restaurant owner or manager much easier. The fewer problems you have, the better your chances of success.  

growyze helps you make informed decisions based on real-time data covering the cost of goods and services, item and menu profitability, and any issues regarding stock and sales. Don’t lose track of recipes and menus, and always know exactly where your revenue is coming from. 

growyze’s best features

Stocktake: Scan barcodes with your phone and instantly generate stock reports without the need to manually enter details via spreadsheet tools. 

Wastage: growyze helps reduce wastage by quickly finding discrepancies, identifying which items bring in the most revenue, and improving loss prevention systems. 

Supply management: growyze lets you store all supplier details in one place, get notified of price changes and order deadlines, set order approvals, and take complete control. 

Revenue analysis: Find out exactly where you’re losing money and where you’re making money to help maximise future revenue and reduce losses. 

Multi-user access: You can grant access to your whole team to make sure everyone is on the same page. All users can complete stocktakes and delivery reconciliation. 

Portable software system: With growyze, you can manage your restaurant from wherever you please via a smartphone or any other suitable device.  

Pricing 

The pricing for growyze is divided into three tiers, namely: free, pro or premium. 

Pro (£69 per month): The plan best suits super-small operators. Perfect for simplifying stock, waste and order management.

Premium (£119 per month): The pro plan is best suited for ambitious F&B businesses with 1-5 sites looking to simplify stock, ordering and accounting processes.

Premium (custom pricing): The premium plan is best suited for growing hospitality operations with 6+ sites/ areas, and hotels looking to streamline their back-of-house processes.

Nory

Nory Restaurant Inventory Management Software

Nory is a robust AI-powered operating and inventory management system designed to benefit restaurants and other businesses within the hospitality industry improve efficiency and maximise profitability. 

Trusted by thousands of brands, Nory is an incredibly useful tool for effectively managing and growing your business. The AI-powered tool learns your day-to-day business operations and uses the information to forecast sales, plan labour distribution and management, and efficiently manage stock. 

The inventory and supply chain management features are perfectly designed to help simplify your supply chain - covering the full inventory lifecycle, from purchase to plate. With it, you can effortlessly find stock and supply issues and reduce wastage by significant margins. 

Not only does it improve your stock management processes, but it also provides features to improve onboarding, payroll and team management. 

According to Nory, the platform can lead to up to a 25% reduction in labour costs, up to a 50% reduction in food waste and up to 100 hours of admin time saved per month. 

Nory’s best features 

Inventory and supply chain management: Nory helps you reduce wastage and simply the full supply chain. AI predicts inventory usage days in advance and creates precise order guides. Wastage is also comprehensively analysed to improve inventory management - all from one central dashboard. 

Performance management: Get automated and real-time performance statistics from menu sales to labour productivity, LTO or food waste. The performance management tool lets you accurately predict demand, increase productivity, and instantly export profit and loss reports. 

Workforce management: The workforce management features let you effortlessly onboard, train, engage and reward employees to improve productivity and quickly resolve issues. Nory intelligently matches staff capability, availability, and contracts to forecasted demand and business budgets

Payroll management: With Nory, your entire payroll process is automated from employee registration to payment processing, pension contribution and query management - giving your HR team the time to focus on retention and progression. 

Pricing 

For accurate pricing information, you will need to book a call with the sales team and request a quote. 

Apicbase 

Apicbase Restaurant Inventory Management Software

Apicbase is a powerful Food & Beverage management platform designed for multisite restaurant operations. The platform provides you with the tools and data to improve day-to-day efficiency, customer satisfaction, sustainable growth and regulatory compliance.

Apicbase helps you to deliver a seamless and consistent dining experience across multiple locations while maintaining effective operational efficiency. The data-driven platform also makes it much easier to reduce costs and optimise resources while upholding the same quality standards. 

Not only can you reduce costs and boost efficiency, but the platform also helps you integrate comprehensive health and safety measures to improve food safety and quality control measures. 

Apicbase is designed to be the backbone of your restaurant so that you can oversee sustainable growth. All F&B data is centralised for ease of reference - from menu management to profit analysis. No longer will you have to manually deal with operational issues.  

Apicbase’s best features 

Inventory management: With the inventory management software you can automate your stocktake for multi-unit restaurants. Keep food and beverage stock accurate down to the raw ingredients while saving time on your F&B stock counts with the barcode scanner app.

Menu engineering: The Apicbase recipe development software serves as a central hub for recipe and menu development. Features include automated food costings, margin controls, nutrition calculations and allergen reporting. 

Procurement: The F&B purchasing software comes with demand forecasting features to help eliminate food waste, cut costs and get smoother operations. 

Analytics: Apicbase provides you with the pivotal data you need to create profitable menus with popular items. The COGS and sales per item are consolidated into a singular dashboard to help you adjust menus to perfection. 

Kitchen management: Centralise your back-of-house processes and get a full overview of your kitchen management down to the smallest financial details. 

Pricing 

Apicbase offers four different plans: starter, growth, professional and enterprise. For information on pricing for each tier, you will need to request a quote. 

MarketMan

MarketMan Restaurant Inventory Software

MarketMan is a restaurant inventory management system designed to streamline operations and improve long-term sustainability. The popular platform is feature-rich and focused on automating tasks across multiple sectors of the restaurant. 

With MarketMan, you can significantly reduce the need for spreadsheets by automating inventory management, purchasing, and invoicing. The cloud-based platform is a perfect tool for restaurants hoping to drive growth through strategic insights. 

From expense management and inventory tracking to order processing and cost analysis, MarketMan gives you the tools to take complete control of your restaurant’s daily operations without the need to sacrifice additional time or resources.

MarketMan has dedicated iOS and Android apps to make everything even easier. You can also seamlessly use the platform to manage multiple foodservice business models including restaurants, bars, pubs, cafes and more. 

MarketMan’s best features

Restaurant management: Effortlessly connect your POS and accounting systems with MarketMan and take full control of your restaurant operations. 

Inventory management: MarketMan’s inventory management system lets you boost profits, reduce costs of goods and services, and generate instant reports based on forecasts and real-time data. It enables easy organisation of inventory items, categorisation, and monitoring of quantities on hand, reducing the risk of stockouts or overstocking.

Menu engineering: Analyse menu performance and optimise profitability with MarketMan's menu engineering tools. Identify top-selling items, analyse margins, and identify opportunities for menu improvement to drive revenue growth.

Purchasing and ordering management: Streamline the purchasing process with MarketMan's intuitive interface. Users can create purchase orders, send them directly to vendors, and track order statuses, facilitating seamless communication and reducing manual errors.

Food waste tracking: Combat food waste and reduce costs with MarketMan's food waste tracking functionality. By monitoring waste levels and identifying trends, restaurants can implement strategies to minimise waste and improve efficiency.

Integration: MarketMan seamlessly integrates with various POS systems, accounting software, and other restaurant management tools, providing a cohesive ecosystem for restaurant operations. This integration streamlines data flow and eliminates the need for manual data entry. 

Reporting and analytics: Gain valuable insights into restaurant performance with MarketMan's robust reporting and analytics features. Generate customised reports on inventory levels, purchasing trends, food costs, and more, empowering data-driven decision-making.

User-friendly interface: MarketMan is designed with a user-friendly interface that is easy to navigate and intuitive to use. With minimal training required, restaurant staff can quickly adapt to the platform and leverage its full capabilities.

Pricing 

The pricing for MarketMan is divided into three tiers: operator, professional and ultimate. 

Operator (£189.50 per month) - The operator tier is perfect for controlling inventory, ordering and receiving. Features include placing and receiving purchase orders, inventory counting and transfers, accounts payable management, POS & accounting software integrations, and 30 invoice scans per month.

Professional (£238 per month) - The professional tier is for those who need additional tools and insights to reduce the costs of goods and services. Features include all the operator features plus supplier order automation and approvals, inventory waste tracking, recipe costing and digital cookbook, advanced profitability reporting, and 50 invoice scans per month. 

Ultimate (£341 per month) - The ultimate tier is for sophisticated operators and large-scale enterprises. Features include all professional features plus suggestive ordering, two included vendor integrations and 150 invoice scans per month. 

How to choose the best restaurant inventory management software in 2024

We know the power of a good restaurant inventory management software system, but how do you go about deciding which one to use? Before making a choice, consider the following factors: 

Ease of Use: Look for a system that is intuitive and user-friendly. Your staff should be able to quickly learn how to use it without extensive training.

Features & Functionality: Consider the specific features you need. This may include inventory tracking, recipe costing, purchasing and receiving, vendor management, barcode scanning, integration with POS systems, and analytics/reporting capabilities.

Integration: If you already use other software systems such as POS or accounting software, make sure that the inventory management system can integrate seamlessly with them. This can streamline processes and reduce manual data entry.

Scalability: Choose a system that can grow with your business. Whether you're running a single location or a multi-unit operation, the system should be able to accommodate your needs as your business expands.

Mobile Accessibility: Opt for a system that offers mobile access or has a mobile app. This allows you to manage inventory from anywhere, which is especially useful for on-the-go tasks like inventory counts or placing orders.

Cost: Consider the pricing structure of the system, including any upfront costs, subscription fees, or additional charges for extra features. Make sure the system fits within your budget and offers good value for money.

Support & Training: Check what kind of support and training options are provided by the vendor. Look for a system that offers reliable customer support and resources such as tutorials or documentation to help you get the most out of the software.

Security: Make sure that the system has robust security measures in place to protect your sensitive inventory data. This includes features like user access controls, data encryption, and regular security updates.

Customisation: Depending on your specific needs, you may require a system that can be customised or configured to match your workflows and processes.

User Reviews & Recommendations: Research user reviews and seek recommendations from other restaurant owners or industry professionals who have experience with the system. Their insights can help you make an informed decision.

Final Thoughts

In 2024, restaurant inventory management software is more important than ever. With innovative technologies constantly improving and an ever-evolving restaurant industry landscape, restaurant owners need to stay ahead of the curve to achieve long-term success. 

When choosing a restaurant inventory management software for 2024, consider the ease of use, features and functionality, integration capabilities, scalability, cost, support and training. From Peckish to MarketMan, your options are plenty. 

By reviewing these aspects and choosing a system that aligns with your restaurant's specific needs and goals, you can streamline operations, improve efficiency, and ultimately drive success in an ever-shifting industry landscape. 

Whether you're a small independent eatery or a large restaurant chain, don’t fall behind. investing in the right inventory management software is vital for staying competitive, optimising resources, and delivering exceptional dining experiences to your customers.

Looking to learn more about restaurant inventory management software? At Tech on Toast, we have you have you covered. Feel free to reach out or browse through our website.

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