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What does this mean in the Hospitality industry?

As in the Hospitality Department will establish par levels of products

Is this kind of like when your boss in IT tells you that there should always be 2 spare toner cartridges and that should should attempt to keep them at this level?

Can it also be based on the past history of the usage of a product for a particular month?

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    I'm voting to close this question as off-topic because it doesn't seem to be related to cooking.
    – GdD
    Commented May 14, 2019 at 16:03
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    @GdD : so you don't make sure that you always have certain items on-hand, and restock your pantry even if you're not planning on making a recipe that specifically calls for it? (eg, there are a lot of things that I try to always keep an unopened container of, because things like a box of salt are hard to look in the cabinet and notice that there's hardly any left in the open container)
    – Joe
    Commented May 14, 2019 at 16:15

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It's the same thing as in any other industry ... a minimum stock level.

As for what it should be for your particular place, yes, it will be based on how quickly you tend to go through things.

These might be commonly used ingredients, but can also be other consumables like paper towels, aluminum foil, wooden skewers, takeout containers, etc.

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