Unit 5: Discussion
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The purpose of this discussion exercise is to provide you with a forum to discuss your newly discovered production and operations management concepts in light of current issues and real world situations. In essence, it 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.
After completing the textbook assignments, lectures, and other materials above, select at least one of the unit concepts below. Then find a current event in an article at the online periodical listed to illustrate that concept. Compose an analysis of that event or situation using the unit operations concept that you selected. Review the grading rubric if necessary to understand how your postings are scored.
Unit Learning Outcome: 1,2,3,4,5
The unit textbook concepts for our discussion for this unit are:
Application of the Just-in-Time philosophy in Operations
Example of continuous Improvement using JIT in Operations
Application of the “Pull System” in manufacturing operations
Application of quantitative forecasting in Operations
Application of causal forecasting in Operations
Measuring forecast accuracy in Operations.
Notice that all of these topics refer to the Operations function of a business, to manufacture a product or create a service. We all know that forecasting is used in all of the business functions, such as in marketing, sales, and finance, but for the discussion in this unit please focus on Operations examples and articles.
Select one of these concepts and find a current related article that describes it at Applied Forecasting: http://www.appliedforecasting.com/ , Manufacturing.net: www.manufacturing.net , Industry Unit: http://www.industryweek.com/ or the Wall Street Journal: www.wsj.com
You’ll find one (or several current articles) to analyze. Remember to focus upon your selected operations concept in your analysis.