The Chicken Rice Shop (Tcrs) Singapore
This report provides an in-depth evaluation and analysis about The Chicken Rice Shop (TCRS). The group have identified TCRS to be in the Asian Full-Service Restaurant industry. Both the PESTL analysis and Porter’s Five Forces model were used to evaluate the industry. The strongest forces in the Porter’s Five Forces model are rivalry of competition, threat of substitute and bargaining power of buyers. The main differentiation competitive strategy of TCRS is to offer Halal food items to target both Muslim and Chinese community.
In order to better evaluate the industry, a competitive evaluation on the competitors was done. The direct competitors of TCRS comprises of Thai Express, Hong Kong Kim Gary Restaurant and Seoul Garden Hot Pot, and their indirect competitors are Soup Restaurant, Crystal Jade and Sushi Tei. Both strategic group model and perception map were used to identify the current positioning of TCRS and their competitors. In addition, competitive response of TCRS was suggested to counter the current perceived strategies used by competitors.
The forecasting method recommended for period 9 is single moving average using absolute change as it yield the lowest mean average deviation of $82. Other forecasting methods are also evaluated and discussed in the report. This would provide options and alternatives when having different considerations. External factors such as economic outlook, new product offerings and marketing effort will affect the accuracy of sales forecast.
Calculations have indicated TCRS’s gross margin to be 70.31%, net profit 12.78% and stock turnover rate at 7.64 times. This report also includes interpretation and comparison of results. In general, TCRS’s gross margin and net profit have performed above the industry average but its stock turnover rate is below average.enough, or the store is overstocking.
This would either mean that sales is low and the perishable goods are not deplete fast
For TCRS to retail the rendang
In order to better evaluate the industry, a competitive evaluation on the competitors was done. The direct competitors of TCRS comprises of Thai Express, Hong Kong Kim Gary Restaurant and Seoul Garden Hot Pot, and their indirect competitors are Soup Restaurant, Crystal Jade and Sushi Tei. Both strategic group model and perception map were used to identify the current positioning of TCRS and their competitors. In addition, competitive response of TCRS was suggested to counter the current perceived strategies used by competitors.
The forecasting method recommended for period 9 is single moving average using absolute change as it yield the lowest mean average deviation of $82. Other forecasting methods are also evaluated and discussed in the report. This would provide options and alternatives when having different considerations. External factors such as economic outlook, new product offerings and marketing effort will affect the accuracy of sales forecast.
Calculations have indicated TCRS’s gross margin to be 70.31%, net profit 12.78% and stock turnover rate at 7.64 times. This report also includes interpretation and comparison of results. In general, TCRS’s gross margin and net profit have performed above the industry average but its stock turnover rate is below average.enough, or the store is overstocking.
This would either mean that sales is low and the perishable goods are not deplete fast
For TCRS to retail the rendang