As a future owner of a hospitality business, how would you use the percentage of sales from new products metric in making supply chain decisions? Provide a situational scenario to support your answer.
Answer (1)
Situational ScenarioImagine you own a boutique hotel with an in-house restaurant. You recently introduced a new seasonal menu featuring locally sourced dishes. After tracking sales for the first month, you find that new menu items account for 30% of total food sales, exceeding expectations.Using this data, you decide to:Adjust Supplier Orders - Since demand is strong, you increase orders from local farmers to ensure a steady supply of fresh ingredients.Optimize Storage & Inventory - With higher sales, you allocate more storage space for high-demand items while reducing inventory for underperforming dishes.Modify the Menu - If certain new dishes are more popular than others, you focus on the best-sellers and phase out low-performing ones.Plan Future Launches - Seeing the success of seasonal offerings, you plan to introduce limited-time menus quarterly to maintain customer interest and sales growth.
