The research paper has elaborately described the core factors of sales Analysis regarding the inventory process at Omni Bar, Pullman Auckland. In this context, the paper has clearly described that the managing of sales department with the help of several inventory management systems is the toughest but core factor in expanding the business area and profit margin of a company in hospitality industry at present era. At present the organization is facing several challenging issue in maintain the market position and success factor to this tough competitive market. This assignment has sharply depicted the complete description of sales and inventory management of Omni bar regarding the methodology section and literature review section.
The presentation of quantitative and qualitative data is there to provide the utmost originality to the Analysis regarding this situation. Therefore, the recommendations section is essential to provide the best possible solution to the research, which will help the management, team of the organization in gaining the utmost success to the organization and market position in this tough competitive market in hospitality industry. In this context, at the very beginning the organization needs to adopt put the special focus in the market research report, with the help of BC matrix, market product mix, investigating over the primary and secondary data collection regarding the selected challenging issue. Therefore, the most effective one is to help the organization in maintaining the actual record of the product stock and the requirement or necessity as per day. This is simply possible with the proper use of inventory management process, which is neglecting at Omni Bar due to the lack of efficient and expert employee who has enough potentiality to control and run it for better organizational performance.
The key component of this research project is the Sales Analysis and Inventory Management of Bar. Managing the sales department with the help of several inventory management systems is the toughest but core factor to expand the business area and profit margin of a company in hospitality industry. In this regard, the success of a bar requires the efficiency and perfection in controlling over the costing, marketing and customer trend and demand, which are presently influencing with the bar management software in order to increasing the profitability of an organization in this hospitality industry. In this context, the data analysis has enough potentiality to make that difference in sales department of a bar. This research project is about the Omni Bar, which is located at Pullman, Auckland. This assignment is depicted with the complete description of sales and inventory management of Omni bar regarding the methodology section and recommendations at the end.
The prime aim of this research paper is to implement the management system and procedure in order to improve the sales and inventory management system, which will increase the customer satisfaction level and productivity of the bar.
The key objectives of this research paper are –
· To describe the importance of bar inventory
· To depict the way or method to control this inventory
· To put details about managing the ordering process and invoice
· Tourist site provide the description for understanding the consumer preference and sales data
· To initialize the process to monitor the variances
Therefore, the research paper is there to present the clear description of the bar management in relation with the research topic (Pardeshi, 2018). On the other hand, the prime factor is that providing the right alcohol to the customer is not the nuclear duty of a bar, the analysis and understanding of better service and profitability are also there to make the bar suitable and successful in the current hospitality industry.
The Omni Bar is one of the most popular bars in Auckland, which established for the purpose of the enjoyment of various things under a roof. It can cater to 80-100 PAX at the same time and the particular place. The bar supplies service to the restaurant as well as they serve many type of liquors. The menu of Omni bar is full of mouth-watering unique selection of international flavours (OMNI BAR, 2019). The process of presentation food using fresh local production is maintaining high technique. Without the above mention items there also we get the service of diverse non-alcoholic beverages. In this bar, the customer found a huge stock of verities at least 4-5 deference of every alcohol with mixed price ranges. The most important of the sales analysis and inventory management of this organization is to understand the many of beverages programs that the bar has given to choose. Then how the estimate ought to sustain in order to make smaller the profit and reduce the losses during spending as well as to manage the great catalogue. Starting up the menu of lunch and the pre and post dinner drinks are presents here in different way.
The methodology section of the research paper is important in providing the details about the research method and process, which are essential in providing the final and authentic findings or results to this paper. Therefore, the intermingling of primary and secondary research method is there to help the researcher to reach the ultimate goal (Lowry, 2015). In this context, this methodology section is mainly conducted with the quantitative and qualitative method. The primary research method is there to help the researcher to go through the proper investigation with the help of original and current data related to the research topic. On the other hand, the secondary research method is there to help the researcher to involve in using the already collected data by someone else and preserved in several form online or offline book or pdf format. In this context, the intermingling of the quantitative and qualitative data collection methods is to provide the research paper the authentic and descriptive knowledge through the structured techniques and participation.
The prime reason behind the selection of primary and secondary research method in this methodology section is that the authentic survey will be helpful in gathering the proper findings and result to the research to draw the appropriate conclusion and recommendations at the end. The presence of the primary research is to collect the data directly from the original context regarding the survey conduction whereas the secondary research method is to complete that investigation from the collected data from several academic peer reviewed journal articles, books, magazines and other market research report available in the offline and online stores or achieve collections. Therefore, the quantitative data collection method is there to help the researcher with the direct data collection with the conduction the interview process and others with several questionnaires (Mondal & Mondal, 2018). On the other hand, the qualitative data collection method is to help the researcher providing the descriptive answers from the experts from the appropriate field of research.
Sales Analysis and Inventory Management of Bar is the core factor of this research paper and this literature review section is the most eminent one to present the elaborate description. In this context, the sales department and the inventory management system has enough potentiality to move the business of a bar towards the utmost success in modern hospitality industry. The tough competitive market of hospitality industry requires the uniqueness and special capability to grab the favour and attention of the customer to create the stable market position and high profitability on behalf of the organization in this industry. In this context, in accordance with (Gallino, Moreno & Stamatopoulos, 2014), the sales ability and the inventory management system are there to boost the market position of Omni Bar, presently, which requires modification and improvement for better result.
In case of doing the bar inventory, the management team of a restaurant needs to pay special attention to the precise counting and to make a prominent checklists of items, which requires checking and records. At the time of inventory, it should be pointed out that no more additional is receiving from the suppliers, as it can damage the whole inventory process. In this context, every inventory process requires the proper and detail information in order to control the items. Therefore, (Chen, 2011) stated that the regular inventory is there to help the management team to gain profit and success. At present time, the inventory is taken consider under daily, weekly and monthly inventory process. In modern era, the addition of some special software allows the hoteliers to measure the alcohol regarding the bar codes, which shows the detail of the liquors. This software actually help to conduct the accurate and fast inventory of bar drinks maximizing the full control over the cost and preventing the unnecessary expenses of drinks after preventing several types of piracy identifying deviations with the help of data analysis with eth hope to save money and time. In this context, the most important facts in this situation are the determination of the total sales and percentage regarding the POS system and the final comparison with the help of several comparisons.
In a word, the prime objective of using the inventory process in a bar is to put special focus upon the daily requirements, usages and selling of liquors at the bar and to keep balance between this usages and stock in that bar. According to the research scholar (Schwartz & Rivera, 2010), this process will help the bar in maintain the stocks and to run the business peacefully without heavy loss. It will also help the management team to understand the current trend and demand of the customer and to bring kind of varieties in the bar in order to uplift the customer satisfaction level in comparison with the competitive market.
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