Question: Provide a realistic solution for how they can increase their 1. financial capability and 2. operation I am working on consulting a business which is

Provide a realistic solution for how they can increase their 1. financial capability and 2. operation


I am working on consulting a business which is my project: here are some information about the company.
 

  1. Store Location Riches Kitchen is situated in a weekend market hence the operating hours are limited.
  2. No established work process flow from procurement to operations.
  3. Riches Kitchen is struggling to find a niche in London's diverse food market for future growth.
  4. No operational system that supports the company's day-to-day operations such as point of sale (POS), accounting and inventory. The manual operation currently in place is tedious and prone to human error.
  5. Longer turnaround time on orders due to limited space. This negatively impacts customer satisfaction and discourages repeat customers.
  6. Limited financial capacity to expand business operations poses challenges, including overhead expenses and new product launches.
  7. Lack of marketing strategy such as selling frozen food without customer awareness.
  8. Addressing how to adapt menus and inventory to seasonal ingredient fluctuations in Chinese cuisine.
  9. Kitchen equipment is not enough to accommodate all customer orders simultaneously, especially during peak hours.
  10. Inadequate staff training and zero work experience in the food industry.
  11. Underutilized staff during kitchen downtime.
  12. Limited product supply as only Mike knows how to make the secret ingredients for the food

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1 Financial Capability a Optimize Operational Efficiency Implementing an integrated operational system including a POS accounting and inventory management system can streamline processes reduce manual ... View full answer

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