Difference between revisions of "ANLY482 AY2017-18T2 Group10 Analysis & Findings: Recommendations"
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==<div style="background: #ffffff; padding: 17px;padding:0.3em; letter-spacing:0.1em; line-height: 0.1em; text-indent: 10px; font-size:17px; text-transform:uppercase; font-weight: light; font-family: 'Century Gothic'; border-left:8px solid #1b96fe; margin-bottom:5px"><font color= #000000><strong>Establish Outlets in the Heartlands </strong></font></div>== | ==<div style="background: #ffffff; padding: 17px;padding:0.3em; letter-spacing:0.1em; line-height: 0.1em; text-indent: 10px; font-size:17px; text-transform:uppercase; font-weight: light; font-family: 'Century Gothic'; border-left:8px solid #1b96fe; margin-bottom:5px"><font color= #000000><strong>Establish Outlets in the Heartlands </strong></font></div>== | ||
| + | <div style="margin:0px; padding: 10px; background: #f2f4f4; font-family: Century Gothic, Open Sans, Arial, sans-serif; border-radius: 7px; text-align:left; font-size: 15px"> | ||
Through our Exploratory Data Analysis, we identified that there are 2 main clusters for XYZ outlets. The one cluster has a high proportion of Tourist, are those which are located in the city, whereas another cluster that is located at heartlands(Tampines, Serangoon, etc.)This is particularly telling, since these locations are more residential and do not generally attract tourists. Thus, this means that the success of these outlets is thus highly dependent on the customers who live and/or work in the vicinity. | Through our Exploratory Data Analysis, we identified that there are 2 main clusters for XYZ outlets. The one cluster has a high proportion of Tourist, are those which are located in the city, whereas another cluster that is located at heartlands(Tampines, Serangoon, etc.)This is particularly telling, since these locations are more residential and do not generally attract tourists. Thus, this means that the success of these outlets is thus highly dependent on the customers who live and/or work in the vicinity. | ||
| − | In addition, the top 2 performing outlets out of 6, are from the heartland areas. This indicates the importance of being located in “heartland” areas, given the greater outreach of customers available, as well as persistence (e.g. tourists are likely to patronise an outlet during their stay in Singapore and would probably not return, while residents living in an area may frequent the outlet more). Furthermore, this does show that the buffet concept is still popular amongst the local residents, and thus XYZ company could look at opening new outlets in densely populated urban areas as part of their future expansion, in order to reap higher revenue. | + | In addition, the top 2 performing outlets out of 6, are from the heartland areas. This indicates the importance of being located in “heartland” areas, given the greater outreach of customers available, as well as persistence (e.g. tourists are likely to patronise an outlet during their stay in Singapore and would probably not return, while residents living in an area may frequent the outlet more). Furthermore, this does show that the buffet concept is still popular amongst the local residents, and thus XYZ company could look at opening new outlets in densely populated urban areas as part of their future expansion, in order to reap higher revenue.</div> <br/> |
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==<div style="background: #ffffff; padding: 17px;padding:0.3em; letter-spacing:0.1em; line-height: 0.1em; text-indent: 10px; font-size:17px; text-transform:uppercase; font-weight: light; font-family: 'Century Gothic'; border-left:8px solid #1b96fe; margin-bottom:5px"><font color= #000000><strong> Standardise UOM For Stocktaking</strong></font></div>== | ==<div style="background: #ffffff; padding: 17px;padding:0.3em; letter-spacing:0.1em; line-height: 0.1em; text-indent: 10px; font-size:17px; text-transform:uppercase; font-weight: light; font-family: 'Century Gothic'; border-left:8px solid #1b96fe; margin-bottom:5px"><font color= #000000><strong> Standardise UOM For Stocktaking</strong></font></div>== | ||
Revision as of 19:18, 25 February 2018
Establish Outlets in the Heartlands
Through our Exploratory Data Analysis, we identified that there are 2 main clusters for XYZ outlets. The one cluster has a high proportion of Tourist, are those which are located in the city, whereas another cluster that is located at heartlands(Tampines, Serangoon, etc.)This is particularly telling, since these locations are more residential and do not generally attract tourists. Thus, this means that the success of these outlets is thus highly dependent on the customers who live and/or work in the vicinity.
In addition, the top 2 performing outlets out of 6, are from the heartland areas. This indicates the importance of being located in “heartland” areas, given the greater outreach of customers available, as well as persistence (e.g. tourists are likely to patronise an outlet during their stay in Singapore and would probably not return, while residents living in an area may frequent the outlet more). Furthermore, this does show that the buffet concept is still popular amongst the local residents, and thus XYZ company could look at opening new outlets in densely populated urban areas as part of their future expansion, in order to reap higher revenue.
Standardise UOM For Stocktaking
One of the main issues that we discovered was that the there are items where quantity is recorded in the wrong units of measurement. From our understanding, this is because the personnel in charge of the stock take may have their interpretation of the UOM and thus made an error in recording. We recommend that the stocktaker to also record down the UOM in which they are recording in addition to the quantity value. This will help eliminate such errors in future as it would highlight errors during data entry and improve the accuracy of inventory data in the future, with the potential for cost savings.
Marketing Strategies for Tourist
As stated in the EDA, we have found out 2 clusters, mainly Tourist and Heartland cluster. For those in the Tourist Cluster, they have the highest proportion of tourists. Reasons for why they would want to visit these outlets are probably due to the close proximity to various places of interest in Singapore as well as tie-ups with the travel agents. As such, one recommendation is that XYZ company may want to partner more with various travel agencies or work with popular tourist places and advertise promotions to entice tourists to visit their outlet, increasing their overall revenue.
