Discuss each of the seven steps in the forecasting system

Assignment Help Operation Management
Reference no: EM131293936 , Length: word count:350

Complete each of the following steps to construct your initial discussion post for this week:

Select an organization that operates on a global scale. Describe something related to it that would need to be forecasted routinely in order to effectively and successfully manage operations in that organization, such as sales, weather, manpower requirements, or fuel consumption.

Discuss each of the "Seven Steps in the Forecasting System" (Heizer & Render, 2014, pp. 106-107) specifically as it pertains to:

(1) the organization you selected, and

(2) the data you selected that would need to be forecasted in order to effectively and successfully manage operations.

Suggest one ethical or legal issue that could be involved in this forecasting situation. As you ponder what to discuss for this item, the following considerations may be helpful:

(1) issues related to obtaining, collecting, and using data;

(2) contractual commitments to suppliers or customers that may be made as a result of the forecast;

(3) insurance contracts that may or may not be entered into as a result of the forecast; and

(4) hiring or firing of employees that may result from the forecast

no plagirism minimum 350 word , no plagirism

Reference no: EM131293936

Questions Cloud

Violate any regulatory stipulations : Identify two ways that healthcare organizations perform marketing related data capture that do not violate any regulatory stipulations. Analyze and discuss how these might change in the future and why.
Miniature statues of empire state building from cast iron : New York Liberty Corporation makes miniature statues of the Empire State Building from cast iron. Sales total 50,000 units a year. The statues are finished either rough or polished, with an average demand of 60% rough and 40% polished. Determine whet..
Determine the entropy production rate and heat transfer : Determine the entropy production rate and heat transfer in a newly designed valve with 1.10 kg/s of an incompressible hydraulic oil flowing through it.
Commercial success of cummins to its commitment : Srikanth Padmanabhan credited some of the commercial success of Cummins to its commitment to the values of education, environment, and social justice, even when commitment to these values resulted in lost business opportunities. What are some evid..
Discuss each of the seven steps in the forecasting system : Discuss each of the "Seven Steps in the Forecasting System" (Heizer & Render, 2014, pp. 106-107) specifically as it pertains to: (1) the organization you selected, and (2) the data you selected that would need to be forecasted in order to effectiv..
Describe an organizational change that has failed : Describe an organizational change that has failed. What caused the failure? What would you have done differently to make it successful?
Cost pool listed select an appropriate allocation base : For each cost pool listed select an appropriate allocation base from the list below. An allocation base may be used only once. Assume a manufacturing company. Allocation bases for which the information system can provide data:
Determine the exit temperature and entropy production rate : Assuming air to be an ideal gas with constant specific heats, determine the exit temperature and entropy production rate of the valve.
Why business may not want to hold too little working capital : Examine the key reasons why a business may not want to hold too much or too little working capital. Provide examples that illustrate the consequences of either situation.

Reviews

Write a Review

Operation Management Questions & Answers

  Book review - the goal

Operations Management is about a book review. Title of the book is "Goal". This book has been written by Dr. Eliyahu Goldartt. The book has been appreciated by many as one of those books which offers an insight into the operations and strategic capac..

  Operational plan in hospitality enterprise

Operational plan pertaining to a hospitality enterprise is given in detail in the solution. The operational plan is an important plan or preparation which gives guidelines regarding the role and responsibilities of each and every operation at all lev..

  Managing operations and information

Recognise the importance of a strategic approach to the development and deployment of organisational information systems. Demonstrate an understanding of the importance of databases and their integration to the organisation's overall information mana..

  A make-or-buy analysis

An analysis of the holding costs, including the appropriate annual holding cost rate.

  Evolution and contributor of operations management

Briefly explain Evolution and contributor of Operations management.

  Functions and responsibilities of an operations manager

A number of drivers of change have transformed the roles, functions and responsibilities of an operations manager over recent years. These drivers have not only been based on technological innovations but also on the need for organisations to develop..

  Compute the optimal order quantity

Compute the Optimal Order quantity of DVD players. Determine the appropriate reorder point.

  Relationship to operations practice in the organisation

Evaluate problems in operations and identify approaches to overcoming them. Critically evaluate operating plans and identify areas for improvement. Justify, implement and evaluate changes to operations in line with modern approaches.

  A make or buy analysis

Develop a report for Figi Fabricating that will address the question of whether the company should continue to purchase the part from the supplier or begin to produce the part itself.

  Prepare a staffing plan

Prepare a staffing plan showing the change of your unit from medical/surgical staffing to oncology staffing.

  Leadership styles in different organizations

Ccompare the effectiveness of different leadership styles in different organizations

  Risk management tools and models

Be able to understand the concept of risk, roles and responsibilities for risk management and risk management tools and models.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd