Bayaran Ganti Belanja Case Study
CHAPTER 1
INTRODUCTION
Bayaran Ganti Belanja (BGB) is the claims made by the employees involved in accidents during the period of work. There are ten types of BGB which are Medical payments, Medical report, Recovery tools-Work injury, Rehabilitation treatment-Work injury, Dialysis treatment, and Recovery tools-disability, Continuous Ambulatory Peritoneal Dialysis (CAPD), Injection (fistula), Medical Doctor and Return to Work-Disability-Rehabilitation Center. Medical payments and medical report are claims that can be made by workers who involved in the accident during working period. However, the claim is not 100% but it is based on rate determined by Social Security Organization (SOCSO). Since it is involving claims, it shows that higher …show more content…
The other four types of BGB which are rehabilitation treatment (work injury), CAPD, injection (fistula), and return to work (disability-rehabilitation center) I didn’t use because the data are not enough due to SOCSO’s infrequently in paying those. All the data are taken from account keeper with the permission of supervisor. The data collected was from year 2012 until month July year 2014. I’m forecasting two variables here which are number of cases and total expenses. So totally there are: forecasts of moving average for number of cases and total expenses in August 2014 for the six types of BGB’s forecasts of exponential smoothing for number of cases and total expenses in August 2012 for the six types of BGB’s
All the data are calculated through Microsoft Excel and results were presented through forecasting …show more content…
The results show that majority of the type of BGB’s which are four out of six BGB’s show that the value of MSE is less for moving average method compared to exponential smoothing method. However, the other two BGB’s if compared to the exponential smoothing method, there are not many differences. In order to achieve higher accuracy of forecasts, the forecasts errors have to be small. Other than that, the value for the number of cases and total expenses should be smaller too because we are expecting less accidents in future as written in Sinar Harian (5 November 2013) where they are targeting 30% less accidents around year 2015. A lot of campaigns are continuously held to give awareness to the workers about the importance of safety while working.
In summary, moving averages forecasting method would bring greater benefits to SOCSO Ipoh in order for them to predict the future outcomes for their organization. Forecasting is very important in an organization because it can be used as planning purposes. Even though the actual and forecasted values may not match exactly, but they should come close in estimating the values. For example, SOCSO targeting to have less accidents among the workers for the upcoming years. Thus, by forecasting, we can whether the number of claims for accidents increase or
INTRODUCTION
Bayaran Ganti Belanja (BGB) is the claims made by the employees involved in accidents during the period of work. There are ten types of BGB which are Medical payments, Medical report, Recovery tools-Work injury, Rehabilitation treatment-Work injury, Dialysis treatment, and Recovery tools-disability, Continuous Ambulatory Peritoneal Dialysis (CAPD), Injection (fistula), Medical Doctor and Return to Work-Disability-Rehabilitation Center. Medical payments and medical report are claims that can be made by workers who involved in the accident during working period. However, the claim is not 100% but it is based on rate determined by Social Security Organization (SOCSO). Since it is involving claims, it shows that higher …show more content…
The other four types of BGB which are rehabilitation treatment (work injury), CAPD, injection (fistula), and return to work (disability-rehabilitation center) I didn’t use because the data are not enough due to SOCSO’s infrequently in paying those. All the data are taken from account keeper with the permission of supervisor. The data collected was from year 2012 until month July year 2014. I’m forecasting two variables here which are number of cases and total expenses. So totally there are: forecasts of moving average for number of cases and total expenses in August 2014 for the six types of BGB’s forecasts of exponential smoothing for number of cases and total expenses in August 2012 for the six types of BGB’s
All the data are calculated through Microsoft Excel and results were presented through forecasting …show more content…
The results show that majority of the type of BGB’s which are four out of six BGB’s show that the value of MSE is less for moving average method compared to exponential smoothing method. However, the other two BGB’s if compared to the exponential smoothing method, there are not many differences. In order to achieve higher accuracy of forecasts, the forecasts errors have to be small. Other than that, the value for the number of cases and total expenses should be smaller too because we are expecting less accidents in future as written in Sinar Harian (5 November 2013) where they are targeting 30% less accidents around year 2015. A lot of campaigns are continuously held to give awareness to the workers about the importance of safety while working.
In summary, moving averages forecasting method would bring greater benefits to SOCSO Ipoh in order for them to predict the future outcomes for their organization. Forecasting is very important in an organization because it can be used as planning purposes. Even though the actual and forecasted values may not match exactly, but they should come close in estimating the values. For example, SOCSO targeting to have less accidents among the workers for the upcoming years. Thus, by forecasting, we can whether the number of claims for accidents increase or