A Dynamic Capabilities Perspective on Restaurant Demand Forecasting: Insights from a Large Restaurant Chain

Abstract

The previous literature on restaurant businesses provides limited insight into demand forecasting. As a theoretical foundation, this research adopts a dynamic capabilities perspective on demand forecasting. From this viewpoint, restaurants possess different levels of demand forecasting capabilities. This study enhances a range of these capabilities across various market scenarios by utilizing different data and analytics tools. By introducing the dynamic capabilities perspective, this research aims to help restaurants assess their demand forecasting capabilities and provide strategic guidance for developing optimal demand forecasting strategies, considering both the technical and organizational resources available within and outside their business, as well as various market conditions.