Difference between revisions of "Teppei Syokudo - Improving Store Performance"
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− | <p>The aim of our project is to help Teppei Syokudo improve | + | <p>The aim of our project is to help Teppei Syokudo to improve shop performance by optimizing its product portfolio mix and improving shop productivity.</p> |
<p>Our project objectives are hence: | <p>Our project objectives are hence: | ||
− | #To | + | #To identify key drivers of shop productivity so as to devise an effective strategy to improve shop productivity |
− | + | #To identify customer purchase trends with out and within sets so as to come up with recommendations that staff can use to manage the product portfolio and introduce opportunities to cross-sell and up-sell | |
− | #To identify customer purchase trends so as to come up with | ||
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Revision as of 22:38, 17 April 2016
Home | Product Portfolio Analysis | Improving Store Performance | Project Management | Documentation | The Team |
Current Progress
Undergraduate Conference for Data Analytics Paper 1 - Product Portfolio Management in F&B using Market Basket Analysis
Undergraduate Conference for Data Analytics Paper 2 - Improving Shop Productivity in F&B store using Regression Models
Final Paper 1 - Product Portfolio Management in F&B using Market Basket Analysis Submitted
Final Paper 2 - Evaluating and Establishing KPIs and Staff Performance in F&B store Submitted
Project Poster 1 - Product Portfolio Management in F&B using Market Basket Analysis Submitted
Project Poster 2 - Improving Shop Productivity in F&B store using Regression Models Submitted
Interim Report Submitted
Interim Wiki Updated
Sponsor Background
Teppei Syokudo is a Japanese Food and Beverage chain, under the umbrella of the famous Teppei Japanese Restaurant. Teppei Syokudo operates as a takeaway kiosk concept, and specializes in Kaisendon, a bowl of barachirashidon (rice with raw fish), that retails for SG$16. It offers other dons (rice bowls), tonkatsu cutlets (fried pork), tempura (fried dishes) and sashimi salads.
The takeaway kiosk mainly targets lunchtime crowds, especially upmarket businessmen and women who are looking to grab a quick, healthy, and quality lunch.
Teppei Syokudo currently has outlets in 4 locations - Millenia Walk, Takashimaya, Republic Plaza, and Ion Orchard.
Each outlet has its own shop manager, one full-time staff, some part-time staff, and chef. The staff include cashiering and assistant roles. During peak hours, the outlets may have up to 7 staff to manage demand.
Project Motivation
Most F&B businesses measure their overall performance through number of customers, sales and profits. Since opening almost a year ago, Teppei Syokudo has accumulated sales data and is looking at Key Performance Indicators (KPIs) such as
- number of customers
- average customer spend
However, these may be easily affected by external factors such as time period, location, and weather.
In order to drive store performance through controllable factors, Teppei Syokudo is looking at focusing on staff performance. Most F&B businesses, including Teppei Syokudo, do not set detailed KPIs to evaluate how their staff are performing. If Teppei Syokudo is able to track the performance of their staff through relevant KPIs, they will be able to motivate staff to meet these KPIs, which will in turn boost the business’ bottom line. Teppei Syokudo has identified the following KPIs to assess their staff:
- Percentage of drinks sales (number of drinks sold / number of meals sold)
- a measurement of how hard the staff are up-selling
- Labour Productivity (sales $ / working hours)
- a measurement of how effective the shop manager is in staffing the shop
However, the business is uncertain if these are the right KPIs to set.
Another factor for driving store performance is through product portfolio mix. Even though the staff may be upselling and cross-selling, they may not know the right products to cross-sell to increase the probability of the customer making additional purchases. For example, most customers may tend to purchase Drink X together with Don X. In this case, if a customer orders Don X and is about to make payment, the staff can suggest Drink X to the customer, hence prompting a higher probability for the customer to purchase Drink X.
Project Objectives
The aim of our project is to help Teppei Syokudo to improve shop performance by optimizing its product portfolio mix and improving shop productivity.
Our project objectives are hence:
- To identify key drivers of shop productivity so as to devise an effective strategy to improve shop productivity
- To identify customer purchase trends with out and within sets so as to come up with recommendations that staff can use to manage the product portfolio and introduce opportunities to cross-sell and up-sell