Optimize Your Bar Inventory: Actual vs. Theoretical Costs with WISK

Theoretical costs are your “should be”

Your theoretical costs are what your bar costs should be for a given period of time, according to the current cost of all the ingredients used in your recipes. By comparing your theoretical costs to actual inventory levels, WISK helps identify variances that may indicate over-pouring, waste, or theft.

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Theoretical Cost' (Sales x Ingredient Cost)

'Actual Cost' (Beginning Inventory + Purchases - Ending Inventory)

Actual costs are your “real costs”

Your actual costs are what your bar actually spent for the same period of time. They account for circumstances like imperfect portions, accidental waste, improper invoicing, or employee theft. WISK provides a clear snapshot of how much inventory has been consumed, allowing you to track actual consumption against theoretical forecasts.

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See how much you can lose with just ONE product

Illustration of a 750mL bottle labeled 'WISK Tequila,' used to track a top product.

Let’s say you want to track one of your top products: "WISK Tequila" (750mL)

Illustration of a bottle labeled 'WISK Tequila,' representing counting inventory in a venue.

You look for "WISK Tequila" in your venue and count.

WISK Tequila: 2.5 bottles counted at the bar

You see 2.5 bottles of "WISK Tequila" in the bar.

And another 5 bottles of "WISK Tequila" in the stockroom.

Now, you know that you have a total of 7.5 bottles of "WISK Tequila"

Open for business and serve as usual.

After you close, you count the bottles of "WISK Tequila" again.

Now, you are left with half a bottle at the bar and 2 bottles in the stockroom.

Illustration showing 'Beginning Count 7.5 - Ending Count 2.5,' indicating actual usage of 5 bottles.

This means that your actual usage of "WISK Tequila" was 5 bottles[Beginning Count 7.5 - Ending Count 2.5]

WISK Sales Report' with sales of 10 WISK Tequila shots and 10 WISK Tequila Sodas.

You check your sales report for everything that was sold that contains "WISK Tequila" and see: 10 x "WISK Tequila shot" and 10 x "WISK Tequila Soda".

'WISK Tequila,' calculating 25 oz sold based on tequila shot and tequila soda recipes.

Your recipe for your tequila shot is 1 oz of "WISK Tequila" . Your recipe for your tequila soda is 1.5 oz of "WISK Tequila". Given you sold 10 of each, multiply 10 x 1 oz and 10 x 1.5 oz for a combined total of 25 oz sold of "WISK Tequila".

loss of 100 oz of 'WISK Tequila,' with 25 oz sold but 125 oz used.

You sold 25 oz worth of "WISK Tequila", but you actually used 125 oz worth (i.e. 5 bottles). Thats a loss of 100 oz of "WISK Tequila".

Stop leaving money on the table

WISK's Variance Tab provides an in-depth analysis of your variance costs, helping you pinpoint items causing the most losses.

Understand key metrics like Variance Cost, Sold ($), Consumption Cost, and Variance Retail to optimize your inventory management.
Use this data to track where your losses are occurring and make informed decisions to improve your Cost of Goods Sold (COGS).
Analyze your consumption patterns and adjust strategies to minimize negative variance.

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Track your variance

in 1 click

WISK helps you see where your problem points are, including which items are most responsible for your losses.

How to catch your losses with WISK

Select

Count

Sell

Count Again

Step One: Select a product to track

Begin by choosing a product/s that you want to monitor. This will help you focus your inventory management efforts and gain insights into its usage and performance.

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Step Two: Conduct a full inventory count

Before opening your venue, use the WISK mobile app to count that product in every location throughout your establishment. This ensures an accurate starting point for tracking inventory and helps you identify any discrepancies from the outset.

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Easy to log full units and cases with WISK app

WISK Bar Inventory,' tracking real-time inventory and consumption through POS transactions.

Step Three: Continue business as usual

Carry on with your regular operations by selling drinks and entering transactions into your POS system. This ongoing activity will allow WISK to track your inventory in real time and provide valuable insights into your consumption patterns.

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Step Four: Perform a post-closing inventory count

After closing, use the WISK mobile app to count that product throughout your venue once more. This comparison with your initial count will help identify any variances and ensure your inventory records are accurate.

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'WISK Bar Inventory,' highlighting easy logging of full units and cases with the WISK app.

See how we’ve helped
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Save 4.5 Hours Every Week

The Brass Tap Franchisee, Sid Patel

“I tried four different inventory systems, and nothing compared to WISK. It cut our inventory time by more than half, and the reports are amazing – it's a game-changer."

From 2 hrs inventory time to 20 mins

L’infâme Tittle Tattle Owner, Loyd Von Rose

“WISK streamlined our chaotic inventory, saving time, reducing labor costs, and preventing theft. It's easy for my staff to manage, and we've seen significant savings.”