Inventory Management in a Restaurant
The Perfect Bite Restaurant
Background: The Perfect Bite is a popular upscale restaurant located in a bustling city center. Known for its innovative cuisine and impeccable service, the restaurant attracts a diverse clientele, including locals, tourists, and food enthusiasts. With a focus on fresh, seasonal ingredients and a commitment to culinary excellence, The Perfect Bite has earned numerous awards and accolades within the industry.
Inventory Management Challenge: Despite its success, The Perfect Bite faces challenges in managing its inventory effectively. With a constantly evolving menu that features locally sourced ingredients and daily specials, maintaining optimal inventory levels while minimizing waste and ensuring product quality presents a significant logistical challenge. Additionally, fluctuations in demand for certain menu items based on seasonal trends and customer preferences further complicate inventory management efforts.
Tasks:
- Procurement Role and Inventory Tools
- Costs Associated with Inventory
- Key Performance Indicators (KPIs) Evaluation
- Define forecasting and explain the various approaches used across the industry to calculate demand for a product in the supply chain.
- Differentiate between dependent and independent demand and the systems associated with each type of demand.
Provide a list of scholarly articles, textbooks, and relevant business journals to support the discussion and analysis conducted in the assignment.
Submission Guidelines:
- Follow uniform citation and referencing throughout in your assignment. No citation style is suggested, you may follow the most comfortable citation style for you.
- Your submission shall be in a PDF File, following –
Font type: Times New Roman
Font Size: 14 – Headings, 12 – Text, 10 – Footnotes
Line Spacing: 2.0
Justified Text (ctrl + j)
Words Expected (1500 -2000)
