Describe three different types of information (data) that Hard Rock Café uses to

Question

Describe three different types of information (data) that Hard Rock Café uses to forecast.  An example would be “Concert Sales.  Name three other areas in which you think Hard Rock could use forecasting models. What is the role of the POS system in forecasting at Hard Rock? Justify the use of the weighting system used for evaluating managers for annual bonuses. NOTE: DO NOT explain the technique, justify the use.  Is it logical, is it fair, is it an effective tool to motivate managers to achieve continuous improvement? Name several variables (types of information / data) besides those mentioned in the case that could be used as good predictors of daily sales in each café.

Explanation / Answer

Ans a –

Long Term Forecasting – To determine the growth of sales per store

Intermediate Forecasting – To create items of raw materials

Short Term Forecasting – For daily or weekly forecasts of resources

Ans b –

Human Resources – Forecasts of employees required

New product launch – Forecasts of sales

New restaurant – Forecasts of profitability

Ans c –

Role of POS: It captures transaction data on nearly every person who walks through a cafe's door

The weighing system motivates the managers to perform to their best and deliver maximum results and achieve their personal goals and even the company’s. Managers earn incentives for being efficient consistently.

Ans d –

Vacation schedules of local communities and that of tourists

Grocery costs and other raw materials costs

Cost of living

Purchasing and buying patterns

Competitor’s actions

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