Application of forecasting models in developing production plans
Overview
The purpose of this discussion exercise is to provide you with a forum to discuss your newly discovered production and operations management concepts considering current issues and real business situations. This is a practice ground for ensuring that your reasoning and foundation of these concepts are secure. This portion of the course requires you to interact with your fellow classmates and critique their submissions.
Note that all these topics refer to the Operations function of a business, to manufacture a product or create a service. We all know that these topics may be used in other business functions, such as in marketing or finance, but for the discussions in this course, please focus on Operations examples and articles.
See the Assignments and Grading page for more grading information.
Resources
· Refer to this sample format for an article analysis . Follow this format to ensure that you include both information about the situation within the article, as well as concepts from our readings that explain it.
Due Date
· Analysis post: By Thursday at 11:59 P.M., CT.
· Three or more peer and instructor responses: By Sunday at 11:59 P.M., CT.
Directions
1. Select one of these concepts
a. Application of forecasting models in developing production plans (which type of model are they using?)
b. Accuracy of forecasting models for developing production plans (how are they measuring accuracy?)
c. Capacity utilization rate
d. Frequent versus infrequent capacity expansion or reduction
e. Services Capacity: differences from manufacturing
f. Manufacturing capacity: Focus and Flexibility
2. Then find a current event in an article from the resources below to illustrate that concept.
. Industry Week (Links to an external site.)
. Wall Street Journal (Links to an external site.)
. Applied Forecasting (Links to an external site.)
. Industry Week (Links to an external site.)
. Global Manufacturing (Links to an external site.)
· Analysis Post
. After reviewing and analyzing at least one of the current events articles, compose an analysis of that event or situation using the unit operations concept that you selected.
. Note: Remember to focus upon your selected operations concept in your analysis.
· Response Posts
. Respond to at least three classmates’ posts or your Instructor’s responses.
. Note: If your instructor asks you a question about your analysis, you must respond to them to receive full credit.
