The Stocklevla App Review

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The Stocklevla App empowers restaurateurs to take stock of their inventory, bar or kitchen, effectively, accurately and most importantly, quickly. When opening or closing the bar stock take generally takes over two hours. However with Stocklevla this tedious process can be done in fifteen minutes. We offer a Real Time, Mobile Stock Taking application (app) that does counts stock using a the clients mobile device or tablet. It then records the data and updates your point of sales (POS) inventory. Currently counting stock is done manually and is a time-consuming and often inaccurate and not up to date. Our app provides a secure stock take process which is multi user accessible showing current stock available. This is owing to our POS Integration which eliminates manual capturing of stock takes. The system update your POS inventory with every transaction. This provides accurate and efficient inventory data in real time. Thus our customers benefit from Improved Stock Take Accuracy & Efficiency. Only stock that is not in the provided margins will be flagged as needing manual stock take, this is made possible through our variance reporting software. The applications image capture reduces the need for manual stock capturing and eliminates the unnecessary labour costs associated with manual capture.

Value Proposition

Stocklevla is an application that makes life as in the hospitality industry easier. Five beneficial innovations offered by the app are faster results, increased accuracy, reduce running out of stock, lower labour costs and overall simplified inventory management . Currently stock is manually taken but not on a regular basis which leads to restaurants and bars unexcitingly running out of stock. When the stock is taken for example at the end of a shift, the process takes hours. Our solution is found in the app. Once the app is customized to the restaurants specific areas and shelves, stock can be taken of bottles measured as number of bottles, glasses or shots using any mobile device or android. This provides faster results when counting the stock. Utilizing the existing hardware for seamlessly fast and accurate results. In which inaccuracy often occurs during a manual stock take. Human error lends itself to forgetting transactions or miscounted items. This results in insufficient stock or overstocks of which both are costly to the business. On average 400-500 items of stock are counted by one staff member. We offer a way in which this can be done accurately in under 20 minutes. The next day these numbers can be checked in the same amount of time and the discrepancies are flagged according to the acceptable standard set by the owner which only the owner has access to change but is otherwise locked. The locked stocks automatically update report for the suppliers. Taking into account the par levels, the app report will recommend purchase orders accordingly. Our customers value our increased accuracy and reduction of out-of-stock items. Managing multiple hotels, restaurants or bars can be challenging when spread out geographically. We offer a simplified way of managing inventory and counting stock. A comparison between theoretical and actual reports can be done using POS software which critical in hospitality to ensure refutable margins furthermore this merging software is already available on the market. However the available software has not innovated to the degree of image capturing stock for a user friendly process. Stocklevla has utilized what is already in the market and developed deeper benefits and higher return on investments.

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Potential Customer Segments

We serve diversified customers in the hospitality industry. Customers may include; coffee shops, restaurants, bars, wine estates, breweries and hotels.

Distribution Channels

The Stocklevla distribution would be the software channel. Our inventory management is done through direct distribution. The internet is a low cost channel we use to reach our wide customer base. Our customers benefit from our personal selling channel in receiving an in person instillation and training on how to use the app correctly. Our distribution channels would also be our employees who perform the initial software installation in each location.

Customer Relationships

We personalize each new customers needs through the configuration process which we communicate to our customers how to properly use the app. Each customer is a new unit in which becomes part of our business. Our customer acquisition process involves analytics to better understand customers and identifying areas that need improvement. Secondly we acquire customers through conversion optimization to which we improve elements of our software and outlook. Customer retention is done by making our product personal to the customer and their own data showing lower error costs and higher GP due to lower costs. The self-service is personalised from the instillation and then becomes a self-service. Our customer support is a personal assistance which creates a best of both worlds customer relationship. The self-service relationship has minimal costs attached however our personal assistance does have a higher cost but it also generates a higher revenue.

Revenue Streams

Food and beverage costs can be useful or a detrimental element of you business, this depends on the way in which these costs are calculated and integrated into the menu. Businesses in the restaurant and bar segment strive to build in a margin resulting in high revenue and attractive prices to customers. Stocklevla loads your current food and beverages onto the software during the configuration process and we then trains the restaurant or bar staff to add or remove items form the established product list. The available stack at the beginning of the week is then captured by taking a picture of the bottle and available units can be displayed in bottles, glasses or shots. Our partnership with Ikentoo ensures the up-to-date dollar value of the items used during the week. This is up-to-date at all times and backed up continuously using the POS software. The available stock at the end of the week is captured using the Stocklevla app with a simple picture of the stock. The Ikentoo software will update the date and calculate your Food and beverage Sales Revenue for the past week. Currently the process is done throughout the week which generates high labour costs. On average waiters and barmen in Australia are paid $16 – $21 hourly. The current manual stock take process takes up to two hours which costs the business $31-$42 a day furthermore a weekly cost of $300 – $400 and $1,200 – $1,600 monthly. These fees take into account overtime, public holiday and weekend fees. Annually the business pays $15,600 – $20,000 on stock take alone. Stocklevla charges a one off instillation and training fee of $5000 and then a monthly $300 licencing fees to the bar, restaurant or hotel. Thus using Stocklevla a business can go from paying $15,600 to paying $3,600 for stock take.

Key Resources

Physical resources are the case studies to illustrate to potential customers of our proven success. The Stocklevla app requires clients to use a mobile device or android to take a picture of the inventory item. This could be a company phone that is used for stock take or the app can be installed on multiple devices. Company cars are essential for getting our employees to the initial instillation. Human resources are the employees that do the installation and training as well as the software development, marketing, sales and accounts department. Our Intellectual resources are the Ikentoo distributorship and licencing. In addition to this our partnership with Xero and their accounting service is essential to our business success. Financial resources are the initial instillation fees that we use initially for covering initial start-up costs. As the business progresses, each user will cover our fees and allow us to make a profit each month.

Key Partners

Ikentoo which is a Swiss POS software that is adapted to the Australian market. Furthermore we have a selected network of quality partners we work with to give our clients a well-rounded inventory solution. Another partner is Xero which is an accounting software which provides Stocklevla with time saving tools and 24/7 customer support. Our partnership with Ikentoo has been developed overtime and enables the real-time stock evaluation as its software works backwards in updating what has been used and what should be available. A mobile solution and it is completely “Australianised” Ikentoo is a Swiss based software that we brought to Australia. We offer a truly unique Australian mobile point of sale. It envelopes everything that mobility has overseas in an “Australianised” application. Thus enabling your business to make a transaction in a restaurant or hospitality environment with the use of an iPad, iPad mini, or tablet.

Key Activities

The research and development department is constantly looking into new product research and updating current products. Quality checks and innovation is done to assure accurate and useful data. Marketing is essential at this early stage and our marketing department is responsible for market research and strategy into the market. Each customer segment requires a different marketing strategy. Constantly using our data to communicate how other local businesses have benefited from using Stocklevla. Sales and customer service is a major feature of our business. Our team installs and trains employees at each new location. Hour support team is available to handle problems 24/7. Being in the hospitality industry we understand hours are not 9 to 5 and our team caters to our client’s needs.

Cost structure

Fixed costs include partnership software licencing fees which are $100 monthly. Our variable costs include transportation to install and train new customers with on average car insurance and petrol cost $200 monthly the more clients we have the more we have to travel. However this is only a once off for each customer and not a recurring cost for each customers but only for new customers. Looking at the economies of scale, our variable costs will decrease as we do not have to do the initial instillation but only online support. Economies of scope based on our diverse customer segmentation reduce our risk associated to the company. If the restaurants market falter there is the hotel market as an alternative to assist during the time.

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