00:00:00,000 are you wasting time chasing a single piece of paper
00:00:03,266 your bar's profitability
00:00:04,866 it depends on how well your team executes
00:00:06,666 the simple things we call it the efficiency index
00:00:10,366 in the fifth video of our fabulous 4 bars video series
00:00:14,233 we're taking a look at the efficiency index
00:00:17,066 where most of our metrics concern
00:00:18,633 the performance and profitability of the bar
00:00:20,566 efficiency index looks at how well managers are doing
00:00:24,100 in terms of executing on the things
00:00:25,600 we need to calculate
00:00:26,900 accurate and granular inventory data
00:00:29,600 so this particular bar a sports bar in Denver
00:00:32,300 got ding this week because they were missing invoices
00:00:34,866 which means we're wasting time chasing a piece of paper
00:00:37,866 and we wasting our energy creating accurate numbers
00:00:41,600 rather than using them to improve performance
00:00:43,866 and make smarter decisions
00:00:45,633 here we have our high end seafood restaurant
00:00:48,066 who's nailing all of these metrics and unsurprisingly
00:00:51,033 as a result of doing the easy things right
00:00:53,600 scoring very
00:00:54,366 very well with 99.2% accountability score this week
00:00:58,066 missing less than 1% of what they poured
00:01:00,466 here is our sports bar in Denver
00:01:02,266 which is another high performer scoring 10 out of 10
00:01:04,900 they are following through on our suggestions
00:01:06,900 uploading all the invoices correctly
00:01:09,100 providing necessary communication
00:01:11,466 programming their point of sale in an optimal way
00:01:14,066 so that the percentage of sales
00:01:15,800 run in a way we can't account for accurately
00:01:18,366 is small and keeping organized
00:01:20,466 so they can count inventory fast and make less errors
00:01:23,633 finally our high volume sushi restaurant
00:01:26,866 got ding this week for organization
00:01:28,966 this is the bar that in a previous video we mentioned
00:01:31,266 has a huge inventory on hand
00:01:32,766 $120,000 at cost because they have such high sales
00:01:36,766 and 260 products on hand
00:01:39,766 so just means if you're not so organized
00:01:44,300 if you have a big inventory
00:01:45,200 it's even more important to be organized
00:01:47,033 so that bartenders can find things
00:01:49,633 make drinks quickly barbacks can restock the bar
00:01:52,466 and overall we spend less time spinning our wheels
00:01:55,233 and more time making data driven decisions
00:01:57,800 with accurate inventory numbers thanks for watching
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