ANLY482 AY2017-18T2 Group10
Introduction
Our sponsor is a food-service organisation that owns and manages various renowned restaurant brands. XYZ Company has evolved into different concepts, with further overseas expansion. Under these concepts, the group has a total of 13 outlets in Singapore.
Currently, our sponsor is not able to accurately determine the number of ingredients to order for their chain of restaurants. It is often based on guesswork and gut feeling which has often led to excessive holding costs as well as food wastage and in some cases, shortage of ingredients. This is not ideal as it may lead to various issues such as cost due to the non-freshness of the product, throwing of food due to expiry, not enough space in storage, the inability to satisfy customer demand, etc.
Our main objective is to forecast the number of ingredients needed for the next order cycle. This can be done by using Time series analysis to forecast weekly customer count and afterwards, predict inventory consumption by using Panel Data Analysis. Our business goal is to improve company’s business planning, decision-making, reduce food wastage and improve food freshness.
Project Progress
- Project Completion Status
100% completed (estimate)
- Project Milestone
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- Upcoming Events (This week)
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1. AP Research Paper Presentation |
