What is the distinction between prediction and forecasting, Operation Management

Assignment Help:

Question 1:

Show the nature and importance of the four logistics-related elements of customer service.

Question 2:

(a) Describe the concept of supply chain management.

(b) What changes have company made to respond to the supply chain management concept?

Question 3:

(a) Describe the Operation Management Concept.

(b) Provide a model of a Production/Operation system. Explain the input and the output of the system.

Question 4:

(a) What is the distinction between Prediction and Forecasting?

(b) Why Forecasting is important in decision making?

Question 5:

What are the various decisions operation managers are called upon to make in the manufacturing and service industries for several operation area under their responsibility. Give suitable example in each area.

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