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Nova Steaks

Nova Steaks. Zahir Bokhari Patrick Brown Meaghan Kelly Madison Rosen. Overview. I. Mission Statement II. Market Analysis III. Operations Strategy IV. Quality V. Supply Chain Management VI. Demand Management VII. Pricing Strategy. Mission Statement.

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Nova Steaks

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  1. Nova Steaks ZahirBokhari Patrick Brown Meaghan Kelly Madison Rosen

  2. Overview I. Mission Statement II. Market Analysis III. Operations Strategy IV. Quality V. Supply Chain Management VI. Demand Management VII. Pricing Strategy

  3. Mission Statement Deliver a high quality yet affordable cheesesteak Utilize only high quality, fresh ingredients Support local community Purchase ingredients from local suppliers

  4. Market Summary 31.8% Young Adults 42.2% Adults 15.8% Kids 12.1% Seniors

  5. Target Market is 15-24 Year Olds Comprises 31.8% of the local population High schools & Universities on the Main Line Under 25 age group eats 46.1% of their food away from home

  6. Needs Assessment Customization • Change toppings • Add sides & drinks Price & Quality • Low price • High quality Customer Service • Efficient • Friendly employees • Delivery service

  7. Order Winners Price & Quality • Low price, yet high quality product Location • Accessible to students • Parking lot with building Local Involvement • Fresh Ingredients from local suppliers • Support local philanthropies, high schools & universities

  8. Operations Strategy Process Structure • Line- few products, high volume, little specialization Customer Involvement • Hybrid office Resource Flexibility • Low-moderate Capital Intensity • Higher in front office • Lower in back office • Labor intensive • Basic equipment

  9. Core competencies & competitive priorities Competencies Chefs Location Technology Suppliers • Local ingredients • Reliable, pre-determined schedule • Good relationships Priorities • Quality • Consistency • Efficiency

  10. Suppliers Meat Bread C&L Produce Cheeses and Produce Everything Else

  11. Quality Strategy Lean System • Eliminating non value-added activities(waste) • Continuous improvement and adds value to functional areas. Types of Waste: • Overproduction • Inventory • Defects

  12. Quality Strategy Kaizen Method • holding low levels of inventory at a time Pull Method • let the customer drive demand and production

  13. Quality Control Basic training for all employees • Each employee is responsible for the quality of their workstation Regular health inspections • Make sure each workstation is up to the highest quality Acceptance Sampling • Used to hold suppliers accountable for the products delivered.

  14. Quality Control 5S Method • Sort • Straighten • Shine • Standardize • Sustain Control Charts • X-bar • R-bar • C-Charts

  15. Review System Continuous Review System Continuous review system to maximize freshness of ingredients Low Inventory Combat Fluctuating Demand Minimize Waste

  16. Demand Management Executive Opinion Weighted Moving Average Linear Regression

  17. Weekly Demand Forecast 840 weekly customers (60% of Campus Corner’s traffic)

  18. Queue Management iPad Ordering System Minimize Potential Queues “On-the-go” Business Model Cross Functional Team

  19. Fixed Costs

  20. Variable Monthly Costs

  21. Pricing Decision

  22. Thank You

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