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Inventory modelling for Restaurant’s Demand and supply - A case study with Reference to a Hyderabad Restaurant’s
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Abstract
The vital requirements of any Restaurant in order to fulfil their customers require. In this Case study, focus on Customer purchase analysis 259 items of Restaurant located at Hyderabad. We Calculate the top 10 items based on sales. Each parameter has specific significance in inventory management, and the table’s data helps interpret and optimize inventory decisions. The total cost of managing inventory, including ordering and holding costs High and low items of demand. In this Case study, we calculate as the High EOQ value (it indicates economies of scale ordering) item and Low EOQ value (suggest less frequent orders due to lower demand) item.
In a Graphical representation - Sales Trend Over Time, Reorder Point Vs. Item, EOQ by Item and Scatter Plot for Annual Demand Vs. EOQ. A total of 170 items were sold across both channels, generating ₹55,335 in revenue. The majority of the sales came from Dine-In, with 114 items sold, contributing ₹37,107 (67% of total revenue). The remaining 56 items were sold through Pick-Up, generating ₹18,228 (33% of total revenue). Calculated Average Daily Demand Analysis, waste factor Inclusion, Reorder Point, Economic Order Quantity (EOQ), Cost Analysis, Item Prioritization. For calculation, Ms-Excel and R Programming language are used.
Springer Science and Business Media LLC
Title: Inventory modelling for Restaurant’s Demand and supply - A case study with Reference to a Hyderabad Restaurant’s
Description:
Abstract
The vital requirements of any Restaurant in order to fulfil their customers require.
In this Case study, focus on Customer purchase analysis 259 items of Restaurant located at Hyderabad.
We Calculate the top 10 items based on sales.
Each parameter has specific significance in inventory management, and the table’s data helps interpret and optimize inventory decisions.
The total cost of managing inventory, including ordering and holding costs High and low items of demand.
In this Case study, we calculate as the High EOQ value (it indicates economies of scale ordering) item and Low EOQ value (suggest less frequent orders due to lower demand) item.
In a Graphical representation - Sales Trend Over Time, Reorder Point Vs.
Item, EOQ by Item and Scatter Plot for Annual Demand Vs.
EOQ.
A total of 170 items were sold across both channels, generating ₹55,335 in revenue.
The majority of the sales came from Dine-In, with 114 items sold, contributing ₹37,107 (67% of total revenue).
The remaining 56 items were sold through Pick-Up, generating ₹18,228 (33% of total revenue).
Calculated Average Daily Demand Analysis, waste factor Inclusion, Reorder Point, Economic Order Quantity (EOQ), Cost Analysis, Item Prioritization.
For calculation, Ms-Excel and R Programming language are used.
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