Order 1270563: inventory management | Operations Management homework help

 

Type of paperEssay (Any Type)
SubjectManagement
Number of pages3
Format of citationOther
Number of cited resources4
Type of serviceWriting

My suggestion about the case formation First part of the case 1. We can start the case with the problems that are directed by the restaurants in general and their need to fresh food and because food generally has a specific expiration date … I wrote already two up but we can add more e important questions for the case : 1 – the quantity we need to provide 2 – when we need to provide 2. Also one of the problems: pressure of small inventions and The points on page 340 We can apply which suitable for the restaurants 3. Also we can talk about the type of inventory. In the restaurants *The second part*: Solutions / Be the answer to quantity and time .. I think it is possible to analyze the Excel sheet and see the more requested dishes in the restaurant and its components .. and choose it as an example of the solution to the restaurant. We can choose a technique or more of the operational inventories …Or EOQ if they are used for the restaurant! Or continue review system In this case, I think the second type for the demands to be Variable or the third for the Demands and the time are Variable Or we can use the Q system I think this is the most appropriate way to calculate them and to know the quantitative result and the time we need each request … *Note*: The Excel is the one in which it is written, in which the invoices are as an example of the dimension, and in it the ingredients for some dishes … so be the source of analysis of the data for us because we give it to Dr .. Profit Crisis in the Restaurant Business A leading Pakistani Cuisine Restaurant in Qatar, Qutba, faced issues with cash flow and profitability. Further investigation with the restaurant owner revealed poor inventory management and wastage. While trying to salvage the situation, the restaurant owner tried various methods to tackling inventory management issues but always ended up affecting the quality of the food. Reverting back the quality, reduced the profits and created cash flow problems. The specific issues faced by the restaurant owner are discussed below Issues related to Inventory control and wastage faced by the restaurant are as follows: 1. Issues with availability of fresh produce, meats and poultry: The vegetable markets and wholesaler of meats and poultry are at a far distance from the restaurant location and operate within certain hours. The delivery schedule from the wholesalers are limited and are not able to provide on demand. 2. Issues with wastage at end of service: The restaurant faced issues with having to throw both cooked and fresh ingredients at end of service every night. Being a full service restaurant, a long menu leads to having to prepare for every item on the menu. The demand however cannot be accurately predicted. While there is an element of process while preparing the final product, it is continuous and short. The inventory cannot be divided into raw material, work in progress and finished good. This is especially the case due to the fact that this is not a “McDonald” style, quick service restaurant. Every dish is prepared fresh on order. Analyzing the restaurant industry in Qatar, especially in context of material availability and logistics, the type of inventory category it falls under is operational inventory. Since the inventories lead time is one day for almost all ingredients, cycle and pipeline categories do not fit in the restaurant industry. However, Safety and Anticipatory inventories need to be stocked for emergency or unexpected demand. Since this is a “make to order” restaurant and there is no significant ordering costs, Economic Order Quantity does not particularly apply in this scenario. With the above constraints in mind, an ABC analysis was recommended to accurately stock and create the possibility for repeatability of ingredients. The list of inventory items and the costs was analyzed to find items for closets attention and tightest control. With this information, four areas of improvements was recommended to the restaurant owner as follows: 1. Sales Forecast: It was recommended to analyze daily sales from previous years in an attempt to create a weekly forecast. Similarly, Analyze months with greater sales and special occasions like New Years, Ramadhan and Eid holidays. The sales forecast will help identify the quantity of ingredients to be ordered. To do this, recipe management is necessary. 2. Recipe Management: An as accurate as possible, every ingredient for every item on the menu needs to be calculated. The idea is to as accurately as possible maintain inventory, in an effort to avoid wastage but at the same time maintain the quality levels. 3. Mass Order discounts: Negotiate mass order discounts with vendors and wholesalers to reduce unit cost on ingredients while keeping in mind storage cost, wastage and freshness of the produce. 4. Re-Order levels: In an effort to reduce the complexity of calculating when to re-order, create bins of the size of appropriate stock that needs to be maintained. Create visual markers to accommodate lead times for all ingredients. The above recommendations will provide fruit only when they are constantly reviewed for effectiveness and efficiency. Every business has its own set of quality standards, customer satisfaction standards and expectation of profits. The restaurant industry is particularly challenging due to the fact that entry barriers are minimum and what is in fashion today may not be the choice of customers tomorrow. The additional challenge is Pakistani/Indian cuisine is that they have an extensive menu. The extensive menu is extremely ingrained into the psychology of the customers. This results into a downward spiral for restaurants, where they are trying desperately to create profits, while the inventories eat up the profits.

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