Explain what would have gone wrong in the company

Assignment Help Operation Management
Reference no: EM132758007

The forecasting technique used in a company always provides inaccurate forecast. The operations manager is frustrated with the model and presents the following argument to the top management: "Forecasting is always wrong". In addition, qualitative forecasts such as expert opinions, decision makers intuition are difficult to measure and significantly deviate from the real world. Our quantitative forecasts are no where nearer to the actual values for the past five years. why is our company have to forecast? Why not get away with forecasting as a whole?

Explain what would have gone wrong in the company. In addition, present your opinion supporting or against the managers argument.

Reference no: EM132758007

Questions Cloud

Find basic and diluted eps for the year ended december : Find basic and diluted EPS (two EPS calculations) for the year ended December 31, 2021. (Show all work for full credit. Round your answers )
Find a good or optimal integer solution : Elizabeth Bailey is the owner and general manager of Princess Brides, which provides a wedding planning service in southwestern Louisiana.
What is the value of one share today : If the firm's discount rate is 8%, what is the value of one share today? A company's dividend this year is $2.25 per share, and dividends are expected to grow
Determine the project with the highest risk : A company intends to invest in project M and Y whose original cost sh. 140 million and sh. 175 million respectively. Installation charges for M is sh.
Explain what would have gone wrong in the company : Explain what would have gone wrong in the company. In addition, present your opinion supporting or against the managers argument
Determine ratio of liabilities to stockholders equity : Total stockholders' equity 625,000. Determine the company's (b) ratio of liabilities to stockholders' equity. Round to one decimal place
What are the company capital structure weights on book value : Masterson, Inc., has 6 million shares of common stock outstanding. What are the company's capital structure weights on a book value basis?
Determine the number of days sales in receivables : A company reports the following: Sales $832,000. Determine (b) the number of days' sales in receivables. Round to one decimal place
Show the depreciation calculations for each year : Show the depreciation calculations for each year using (a) the reducing balance methods with a rate of 25%, (b) the straight line method.

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