Preview

Production, Forecasting Inventory Management and Quality Control

Powerful Essays
Open Document
Open Document
5328 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Production, Forecasting Inventory Management and Quality Control
Production, Forecasting
Inventory Management
& Quality Control

1

Types of Production:
1- Piece production (≈ 20 parts)
2- Lot (batch) production (≈ 500 parts)
3- Mass production (> 1000 parts)
4- Continuous production (oil, gas… chemicals)

2

r

3

Inputs: They represent the required resources for production, and are known as the 5 basic M’s of production system. They include Money,

Materials,

Manpower,

Methods

and

Machines. They can be extended to Market, Management and Maintenance.
Transformation Processes: they represent the main source of fixed cost (equipment, machines), and Add Value to the system input.
Output could be goods like houses, cars, clothing, computers or service like health care, banking, and communication. The system is constrained and influenced by:
Surroundings external environment: Out of organization control like social, political, economic and weather factors.
Internal

work

environment:

Planning-

Organizing-

Controlling- Leadership. Also it includes heat- lightingnoise- vibration.

4

5

The Operation Manager Main Responsibilities:
1)

To create the goods or service regardless of what are being created.

2)

To coordinate the use of resources through practicing the
Management Process.

The Management Process Involves In:
1. Planning: Determining future action of what is desired and how to accomplish it. Examples: Capacity, Location.
2. Organizing: Administrative structure, decision regarding who, what,

where,

when

and

how.

Examples:

Subcontracting.
3. Staffing: Training the personnel. Examples: Hiring, Lay off, use of Overtime.
4. Directing: Issuing Commands and orders, motivation.
5. Controlling: Measuring results and implementing actions.
Examples: Inventory Control, Quality Control.

Competitiveness: Comparison of the organizations with one another depends on
1. Price: By lowering production cost
6

2. Quality:

You May Also Find These Documents Helpful

  • Better Essays

    The primary functions of the management process consist of planning and strategizing, organizing, leading and controlling. The planning process helps different parts of the organization set future objectives and to develop activities necessary to achieve those objectives.…

    • 1125 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    4. Controlling-The last stage in the four management functions involves the monitoring of the firm’s performance in order to guarantee that the company’s goals are being met. Managers also need to become aware of their costs versus the performance of the organization as a whole.-For instance, if a financial institution has a goal of increasing their loan portfolio by 10% over the next 2-3 months, the managers in each branch will need to monitor the progress toward their…

    • 340 Words
    • 2 Pages
    Satisfactory Essays
  • Better Essays

    BUS 303 FINAL PAPER

    • 1159 Words
    • 4 Pages

    In today’s labor market, business environment is constantly changing and for this reason the tasks of an Operations Manager in a company is ever increasing so the job description of this position should clearly state the expectation of the job. A job description identifies characteristics of the job to be performed in terms of the tasks, duties and responsibilities to be fulfilled (Youssef, 2012). The tasks of the position must clearly and concisely communicate in the job description. For instance, the main tasks of an Operations Manager will be to oversee, direct, and coordinate all activities of the business with respect to products and services being offered by the company. In addition, the Operations Manager will be responsible for reviewing financial statements, activity report and also managing, training and developing employees.…

    • 1159 Words
    • 4 Pages
    Better Essays
  • Best Essays

    Virgin Holdings Ltd is an expert in the domestic and international travel industry. Previously known as Virgin Blue, and came to the Australian market in year 2000. Virgin is part of Virgin Group consisting of 400 other companies and founded by Richard Branson. At fiscal year end June 2012, flights operated reached 162,817 and 19,468,929 people were carried to 52 destinations. Revenue is $4,175 million with 5,300 employees. Virgin operates globally but domestic operations are the main income stream. Product line for short haul and long haul international flights as well as domestic include saver lite, saver, flexi, premium saver, premium, business saver, business.…

    • 1601 Words
    • 7 Pages
    Best Essays
  • Powerful Essays

    MU1 Assignment 2

    • 1726 Words
    • 6 Pages

    In manufacturing companies, production is usually the most important aspect of the entire process mostly due to the high cost incurred, the staffing and the complexity of the departments involved –…

    • 1726 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    Inventory and Forecast

    • 1184 Words
    • 5 Pages

    3. Based on the description in the text and the evidence in the Exhibits 6 and 9, what went wrong with the SF-6000 forecast?…

    • 1184 Words
    • 5 Pages
    Better Essays
  • Good Essays

    production control

    • 785 Words
    • 13 Pages

    1) The manager of an automobile repair shop hopes to achieve a better allocation of inventory control efforts by adopting an A-B-C approach to inventory control. a) Given monthly usages in the following table, classify the items in A, B and C categories according to dollar usage: Item Usage Unit Cost 4021 90 $1,400 9402 300 12 4066 30 700 6500 150 20 9280 10 1,020 4050 80 140 6850 2,000 10 3010 400 20 4400 5,000 5 a) In descending order: Item Usage x Cost 4021 $126,000 Category A 4400 4066 6850 25,000 21,000 20,000 B B B 4050 9280 3010 9402 6500 11,200 10,200 8,000 3,600 3,000 228,000 C C C C C b) Determine percentage of items in each category and percentage of total cost for each category. Category Percent of Items Percent of Total…

    • 785 Words
    • 13 Pages
    Good Essays
  • Powerful Essays

    In this case study, I use POQ to calculate Optimal Quantities to Order because some the parts are made by company's plastic-molding machines in an assembly operations and units can be assumed that are received incrementally during production. We also have the following assumptions:…

    • 1681 Words
    • 7 Pages
    Powerful Essays
  • Powerful Essays

    Production Planning

    • 1492 Words
    • 6 Pages

    PRODUCTION PLANNING TERM PROJECT | | | Course Lecturer: Prof.Dr.Selim Zaim Öğr. Gör. Dr.Hüseyin Selçuk Kılıç | | | | | Project Members: Elif Duygu Bağatırlar 150308045…

    • 1492 Words
    • 6 Pages
    Powerful Essays
  • Powerful Essays

    T.A. Spedding University of Greenwich, Chatham Maritime, Kent, UK K.K. Chan Nanyang Technological University, Singapore…

    • 5007 Words
    • 21 Pages
    Powerful Essays
  • Good Essays

    • Sales & Operations Planning (SOP) is a flexible forecasting and planning tool with which sales, production, and other supply chain targets can be set on the basis of historical, existing, and estimated future data. • Rough-cut planning can also be carried out to determine the amounts of the capacities and other resources required to meet these targets. • Use SOP to streamline and consolidate your company’s sales and production operations. • SOP is particularly suitable for long- and…

    • 3359 Words
    • 14 Pages
    Good Essays
  • Better Essays

    Production Planning

    • 2124 Words
    • 9 Pages

    a. Scientific laws govern how much a worker can produce in a day. b. It is the…

    • 2124 Words
    • 9 Pages
    Better Essays
  • Satisfactory Essays

    Production Planning and Control

    • 29156 Words
    • 117 Pages

    one copy of requisition in a daily follow up file or in ticket file according to th…

    • 29156 Words
    • 117 Pages
    Satisfactory Essays
  • Powerful Essays

    The Delphi method was developed in the 1950’s with the purpose of soliciting expert opinion in order to reach consensus (Dalkey & Helmer, 1963, p. 458). It was so named because it was originally developed as a systematic, interactive means of forecasting or prediction, much like ancient Grecians came to the Oracle at Delphi to hear of their fortunes. The approach relies on a collection of opinions from a panel of experts in a domain of real-world knowledge, and aggregates those decisions to reach consensus around a topic. It is different from traditional surveys in that it is an attempt to identify what could, or should be, as opposed to what is (Miller, 2006).…

    • 1951 Words
    • 8 Pages
    Powerful Essays
  • Powerful Essays

    Thesis: Inventory Control

    • 4783 Words
    • 20 Pages

    Knowing a business’ inventory in small scale business may be hard task and can be inaccurate at times especially if you maintain it manually. Maintaining records on these sheets of papers is time-consuming and it takes a lot of patience to do so. Misappropriation of these records will result to misplacement and damages. Possible errors and shortage and overage will also occur most of the times. Hence, manually recording sales where there is a rapid change in technology is obsolete.…

    • 4783 Words
    • 20 Pages
    Powerful Essays