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?

(c) Describe Delphi technique of Forecasting.

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.


Related Discussions:- What is the distinction between prediction and forecasting

Regression analysis, advantages of simple regression method for cost estima...

advantages of simple regression method for cost estimation.

Explain repetition of new product, You are a consultant called in to estima...

You are a consultant called in to estimate the costs after the employees learn how to do a job more efficiently by repetition of new product. You find a company can produce a produ

Work study, link between work study and value analysis?

link between work study and value analysis?

Explain what is the expected value with perfect information, ABC Company, a...

ABC Company, a soft-drink vendor, has created a table of payoffs for three stocking decisions for three different states of nature: States of nature (Demand) Alternatives He

Fraction defective p chart - control charts for attributes, Fraction Defect...

Fraction Defective P Chart - Control Charts for Attributes This type of chart is used when it is impractical or inconvenient to maintain a constant sample size. Instead of pl

Explain what is marketing research, What is Marketing Research? Why do succ...

What is Marketing Research? Why do successful firms conduct marketing research for their products/services? Discuss the six steps in the Marketing Research process and relate to an

What is meant by perpetual inventory system?, Ask question #What is meant b...

Ask question #What is meant by perpetual inventory system?Minimum 100 words accepted#

Span of processes - make or buy, Span of Processes - Make or Buy When ...

Span of Processes - Make or Buy When Henry Ford developed his famous moving assembly-line method of producing the Model T car at the River Rouge plant in Detroit, he chose to

How import tariffs and exchange rate adjustments, 1. The company's shipment...

1. The company's shipments of newly-produced branded and private-label footwear from its plants to its regional distribution centers are subject to a. any applicable import tari

Write Your Message!

Captcha
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