Purpose of Assignment
The purpose of this assignment is for students to learn how to apply Operations Forecasting.
Resources: Microsoft® Excel® (Template provided)
Select a business operations dataset from the internet, which can be used for forecasting what the results may be at a future state (monthly [for two years], quarterly [for five years], annually [for 20 years]. (See example in the Template). Use caution in using the template, as some of the cells contain formatted functions for performing calculations. You should only need to enter data into Column A and B only. Review the template and the associated data. This should give you an idea of the types of data you will require, and what the results columns reveal. You are required to provide an APA formatted reference to the location of the source data (Do Not just enter the Web Link). The returned work from previous week's work, should give you some insight as to what an APA reference should look like.
Develop a run over a given period, upper limit and lower limit as to confidence in the forecast using Microsoft® Excel®.Template
- Compare and contrast each quadrant of the forecast.
- Evaluate the impact this forecast would have on the firm from a financial metrics standpoint, by writing a 300-word report in which you describe your forecasting project and what it means in terms of favorable or unfavorable forecast and why or why not..
Format your assignment consistent with APA guidelines.
The newest version of the
OPS 571 Final Exam is available on the following details:
1. Which of the following is considered a major process flow structure?
2. ISO audits result in certifications that are done by first, second, or third parties. Which of the following result in the best certification of a firm?
3. Which of the following is ISO 14000 primarily concerned with?
4. Which is the one correct value stream principle?
5. What is the starting point in developing a capacity plan for a health care operation?
6. Which of the following is considered an organizational blueprint, which prescribes the quantity and time frame for when each end product will be assembled?
7. Which of the following is an element that addresses elimination of waste under lean production?
8. In most cases, demand for products or services can be broken into several components. Which of the following is considered a component of demand?
9. Design for manufacturing and assembly delivers product improvements by emphasizing which of the following:
10. Which of the following is one of the principles of reengineering?
11. Which of the following is a characteristic that can be used to guide the design of service systems?
12. Considering Hau Lee’s uncertainty framework for classifying supply chains, which of the following is given to a supply chain which has an evolving supply process based on functional products?
13. There are many applications of poka-yokes in service organizations. Which of the following is one of the three-T's used to classify poka-yokes?
14. Which of the following is a major factor that distinguishes service design and development from manufacturing design and development?
15. A project can be segmented into which of the following?
16. Which of the following is a cost impact and payoff analysis tool from the operations consulting tool kit?\
17. According to the theory of constraints, which of the following can be a capacity-constrained resource (CCR)?
18. The ability to rapidly and inexpensively switch production from one product to another enables which of the following:
19. According to the theory of constraints, which of the following financial measurements can be used to measure the firm's ability to make money?
20. Deming’s PDCA (plan, do, check, and act) cycle underlies what inherent Six Sigma principle?
21. Which of the following is usually included as an inventory holding cost?
22. Which production process term best describes the situation when activities in a stage of production must stop because there is no work?
23. In a Gantt chart the vertical axis represents which of the following?
24. The Shingo system states that the way to prevent defects from coming out at the end of a process is to do which of the following:
25. Which of the following terms describes the time a unit spends actually being worked on together with the time spent waiting in a queue?
26. Which of the following is one of Dr. Eli Goldratt's rules of production scheduling for optimized production technology?
27. During the implementation of a project, which of the following should be the primary focus of a consulting firm?
28.. Which of the following is an analytical tool used in Six-Sigma quality improvement programs?
29. A project manager must consider several components when overseeing the planning process of aggregate operations; specifically, whether such components are factors that are internal or external to the organization. Which of the following factors would be classified as an internal component for an organization?
30. Which of the following is the net requirement using an MRP program if the gross requirement is 10,000 and the inventory on hand is 4,000?
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