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DEPARTMENT
NAME
SUPERVISOR.NAME
RIGA-2020
Contents
1. ABSTRACT .................................................................................................................................. 3
2. INTRODUCTION ......................................................................................................................... 4
3. BUSINESS EXPANSION MODEL............................................................................................... 5
4. INDIAN RESTAURANT INDUSTRY ANALYSIS ...................................................................... 5
5. MARKET INSIGHTS ................................................................................................................... 6
6. KEY DETERRENTS TO THE GROWTH OF THE MARKET ..................................................... 7
7. SCOPE AND OBJECTIVES ......................................................................................................... 7
8. LIMITATIONS OF THE STUDY ................................................................................................. 7
9. PROBLEMS OF OUR RESTAURANT......................................................................................... 8
1.ONLINE FOOD DELIVERY SERVICES .................................................................................. 8
2. SUPPLY BY ROBOTS AND AUTOMATION BELTS............................................................. 8
3. TRADITIONALAND NUTRITIOUS FOODS MODEL ............................................................ 8
4. FRANCHISEE MODELS.......................................................................................................... 9
10. ALTERNATIVE SOLUTION ..................................................................................................... 9
11. METHODOLOGY .................................................................................................................... 10
12. DECISION ANALYSIS RESULTS........................................................................................... 13
CONCLUSION ............................................................................................................................... 14
REFERENCES................................................................................................................................ 14
1. ABSTRACT
In this paper, one of the multi-criteria models in making decision, a Technique for
Order Preference by means of Similarity to an Ideal Solution (TOPSIS), is defined. Some of
the advantages of TOPSIS strategies are: simplicity, rationality, comprehensibility, proper
computational efficiency and capability to degree the relative performance for every
opportunity in a simple mathematical form. The paper has a evaluation individual. It
systematises the knowledge within the scope of techniques of decision taking with using the
TOPSIS technique. Simple numerical examples that reference actual situations display
sensible programs of different components of this approach. The paper is organized as
follows. The Introduction affords a short overview of the decision making steps as well as
MCDM techniques.
There are different faculties of thought whilst managing selection troubles. MCDM
troubles are categorised into two classes: a couple of goal programming, and more than one
criteria evaluation. The second category is emphasized in our case to attention on the
evaluation problems. The majority of these strategies belong to the 2 foremost faculties of
multi criteria strategies, the American and the European
TOPSIS is rational and comprehensible, the computation strategies are truthful, the
concept permits the pursuit of the pleasant alternatives for each criterion depicted in a easy
mathematical shape; the importance weights are included into the comparison tactics.
2. INTRODUCTION
Ever since the world has existed, human beings have found themselves concerned
in taking selections that difficulty their day by day life. For many years researchers have been
inquisitive about the analysis of ways human beings perform this task.
In this feel, it's miles vital to model the context wherein we're to transport, in any
such way that it simplifies (represents) the actual system, and with the condition that it's
miles without problems understood and is simple to put into effect. Thus, we study the
alternatives that can be chosen, as well as the criteria on which stated alternatives are going to
be evaluated.
which in the beginning sight seems to be simple, paperwork a part of the whole
field this is referred to as Multiple Criteria Decision Making (MCDM)MCDM is a manner
that consists in locating the exceptional alternative amongst a fixed of possible options. A
MCDM hassle with many alternatives
Selecting initiatives is an vital hassle, yet often difficult challenge. It is complex
because there may be usually more than one size for measuring the effect of every challenge
and specially whilst there is more than one selection maker. This paper considers a real utilit y
of undertaking choice for restaurant initiatives with using the opinion of specialists by way of
one of the institution choice making version, it's miles referred to as TOPSIS technique. Four
types of criteria include qualitative, quantitative, terrible and high-quality standards had been
considered for deciding on the excellent one.
3. BUSINESS EXPANSION MODEL
The continental seafood restaurant was located in Kerala our restaurant was established
since one decade but the trend was completely different on those time But when it comes
digital era everything has to be updated accordingly to the contemporary practices that is the
only way to sustain and succeed in businessSo as to update there are some problems to find
which alternatives has to be implemented at first
Because this process requires huge capital and it has be funded periodically without ant
intervals As it is said before to reach someone’s heart the ultimate solution is to serve
delicious food. With good customer experiences And complete updated services to the
consumers keeping this in mind I have decided to undergo the key determinant of quality
food prepared and served, the deliver to keep my community healthy. with updated
technologies
The expansion in restaurant may increase the revenue stream of the company then it can
be the market leader with high amount and sales and consumer preferred restaurant that will
increase the sustainable period of the business and that will hold the business for longer
period but if there is any new best alternatives or new initiatives initiated by the competitors
company that will affect the whole business of our self.
The Restaurant Market In India will grow at a steady pace in the coming years. The
eating place market size will develop in addition. The restaurant enterprise in India can be
divided into some of segments depending on what kind of food they provide. Chain meals
services and certified format are the two critical modes of operations for eating places in
India. Restaurant market studies have indicated that the Indian customers are keen on
traditional and continental foods. Growing disposable profits along side increasing proportion
of eliminate food is using the market. A quarter of the population in India eats out at the least
two times in line with month.
Restaurant marketplace evaluation proves that the industry also faces a few limitations.
Licensing in India isn't a completely smooth process in India. Food inflation is every other
persistent trouble which the eating place proprietors should face. Lack of skilled manpower is
some other undertaking. Cost of excessive actual estate decreases the earnings of the owners.
Foreign players at the moment are coming into the Indian marketplace. With their entry
the idea of topic-based eating places and cafes have become popular. There are a few eating
place chains which might be doing very well in India. The local restaurants face a difficult
venture from the chain restaurants. Market access isn't that tough besides for a few strict
guidelines.
The Restaurant Market In India Report Analyses The Restaurant Market In India Size,
Volume And Growth Rate Based On The Recent Developments In The Restaurant Market In
India At A Global Scale., Recent Restaurant Market In India Trends And Growth
Opportunities During The Forecast Period. Along With This, An In-depth Analysis Of
Advancements In The Restaurant Market In India.
The Report Delivers An Outline Of The sea food restaurant Associated With The
contemporary Market In India And Provides Information About Company Such As decision
making of some alternatives ,
5. MARKET INSIGHTS
The hotel industry in India is expected to reach a value of INR 1,210.87 Bn by the end of
2023, expanding at a compound annual growth rate (CAGR) of ~13% during the 2018-2023
period, owing to the high arrival rate of foreign tourists and business delegates. Market place
potential
Kerala is anticipated to be the leading provider of hospitality services in the country, with
a total of 440 approved hotels. Maharashtra, Gujarat, Rajasthan, and Tamil Nadu are the other
states that make up the list of top five states with regard to hospitality services.
In FY 2019, on an average, 53.6% of the total revenue of Indian hotels came from rooms,
followed by food and beverages, and banquet services. Demand for hotel rooms is high
across the country, owing to increased business-related and leisure travel.
6. KEY DETERRENTS TO THE GROWTH OF THE MARKET
The implementation of the goods and services tax (GST) has helped customers of the
hospitality industry with reduced expenditure, by harmonizing taxes and lowering enterprise
transaction fees. This but, has turned out to be a drawback for lodge proprietors for the reason
that very last price that stop customers undergo has decreased, as a result lowering their
income margins.
The restaurant enterprise in India has witnessed an unheard of transformation with the
entry of a spread of national and global players. This has, in flip, given birth to a huge
demand for certified experts in the zone and all associated industries. Thanks to the
technological revolution, Indian eating place setups have now long past online to advantage
greater customers and serve them higher.
The main objectives of the study are to choose the best alternatives in the market to
adapt the development model in terms of the restaurant Internal and external services to
sustain in the market.
Every business has to innovate the new techniques and solutions to sustain and
compete among the competitors here in our restaurant we also choose some alternatives to
which has to be selected for the near future
The restaurant cannot provide all these facilities to its customers it lacks from the fund
and as well as even the big players in the market cannot adapt to all those models at a single
stretch these services can be provided at a regular intervals but choosing the first best
alternatives is way tougher
So for choosing the best alternatives among all the services we just prepared some
basic oral questions to our consumers we enquired to all other general public also to findout
the best solutions.As per the results of the oral questionnaire we prepared some data table to
represent the solutions and to find out the alternates
However, the TOPSIS technique gives sure drawbacks. One of the problems as a result
of TOPSIS is that it can purpose the phenomenon called rank reversal. In this phenomenon
the alternatives’ order of preference changes whilst an opportunity is;ljjj brought to or
removed from the choice problem. In some cases this will result in what is called total rank
reversal, in which the order of preferences is definitely inverted, this is to mention, that the
alternative considered the fine, with the inclusion or removal of an alternative from the
technique, then will become the worst. Such a phenomenon in many instances may not be
suitable.
Finally, it calculates the weighted positive score and the weighted negative rating of
every alternative, respectively, to get the relative degree of closeness of each alternative. The
larger the relative diploma of closeness of the alternative, the better the desire order of the
alternative.
4. FRANCHISEE MODELS
Compared to other styles of small business ownership, there are good sized
advantages to operating a franchise. Most franchisees routinely enjoy the call recognition of
the emblem they function. Signing on to extend the reach of a employer or idea that already
has a faithful following can permit a franchisee to capitalize on the recognition component
and journey the equal wave of achievement.
Franchising Takes Hold Initially, most man or woman motel promoters had been buyers
in properties, and that they ran their inns without franchise assist from both the Indian or
global lodge chains.
Criteria
Public
Customer feedback Future trends opinions Competitor practice
Customer
delivery 80
0.25 70 0.3
Franchisee
model 35 0.15 25 0.2
Supply by
robots 45 0.25 90 0.1
Traditional
dishes model 40 0.25 115 0.3
Criteria
Publiv
Customer feedback Future trends opinions Competitor practice
Customer
delivery 80
0.25 70 0.3
Franchisee
model 35 0.15 25 0.2
Supply by
robots 45 0.25 90 0.1
Traditional
dishes model 40 0.25 115 0.3
X ij
X ij
n
normalized matrix
ij
X 2
i 1
future public competitor
cus.feedback trends opinion practice
online
delivery 0.741185687 0.518475847 0.425415988 0.612372436
franchisee
model 0.324268738 0.311085508 0.151934281 0.40824829
supply by
robots 0.416916949 0.518475847 0.546963413 0.204124145
traditional
dishes
model 0.370592844 0.518475847 0.698897694 0.612372436
new
interiors 0.185296422 0.311085508 0.091160569 0.204124145
0.5
m 2
S i Vij V j
j 1
0.5
m
S i Vij V j 2
j 1
si+ si-
0.206224617 0.115849
0.157129287 0.149871
0.108464925 0.168979
0.004206009 0.215282
0.171820249 0.194561
S i
Pi
S i S i
• Each criterion in the decision matrix takes either monotonically increasing or monotonically
decreasing utility.
• A decision matrix of n alternatives and m criteria and a set of weights for the criteria are
required.
• Any outcome which is expressed in a non-numerical way should be quantified through the
appropriate scaling technique.
In most cases, the selection derives from a techno-financial feasibility and analysis.
Our research proves that the end result must think about extra parameters than technical
feasibility and low creation costs
Here in our restaurant has more confusions to choose the best alternatives which is
available in the market and also by asking some feedback to the people but to choose that one
is quite difficult and fishy but to do the analysis and interpret the solution Topsis method
helped to choose the prime best alternatives to the restaurant that is to choose the online
delivery system at first and other models are secondary
The restaurant has to prefer the online delivery system at first to attract more consumers
by providing offers and discount codes to lead the market This tools helps to choose the best
alternatives available
REFERENCES
1. Chen, C.T. Extensions of the TOPSIS for group decision-making under fuzzy
environment. Fuzzy Sets Syst. 2000, 114, 1–9.
2. Jahanshahloo, G.R.; Lotfi, F.H.; Izadikhah, M. Extension of the TOPSIS method for
decision-making problems with fuzzy data. Appl. Math. Comput. 2006, 181, 1544–1551.
3. Yoon, K.; Hwang, C.L. Multiple Attribute Decision Making: Methods and Applications;
Springer: Berlin/Heidelberg, Germany, 1981.
4. Yoon, K. System Selection by Multiple Attribute Decision Making. Ph.D. Dissertation,
Kansas State University, Manhattan, KS, USA, 1980 .