ANLY482 AY2017-18T2 Group10 Analysis & Findings: Recommendations
Establish Outlets in the Heartlands
With reference to Figure 32, it was shown that SG EHUB, SG NEX and SG TM have the lowest proportion of tourists out of all their patrons. 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.
From Figure 24, it can also be seen that SG NEX and SG TM are in fact the two best performing outlets of the six. 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 Seoul Garden could look at opening new outlets in densely populated urban areas as part of their future expansion.
Standardise UOM For Stocktaking
As mentioned under the data issue in Section 2.2.1, there were items which have quantity 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
With reference to Figure 32, it was shown that SG Bugis Junction, SG Marina Square and SG HarbourFront have the highest proportion of tourists out of all their patrons. This means that many tourists would visit their outlet. 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 Zingrill 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.
