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Figuring out how many units of each product will need to be produced at some range of time frames. For example, a company has a statistical model that tells them they will need to produce 11 million units of product in November and 12 million units in December. This data is used to place orders for raw materials and schedule the right number of hours of staffing each month.
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Nature and scope of production management and operation management?
Production management is the planning, forecasting, or marketing of a product at all stages of the product's lifecycle. Operations management is overseeing, designing, and controlling the process of production.
Distinguish between production and operation management?
Production management is an organized function within a business that deals with planning, forecasting and production or marketing of a product at all stages of its lifestyle. Operation management is concerned with overseeing, designing and controlling production and business operations during the production of goods or services.
What is forecasting in production and operation management?
The art and science of predicting future events. Looking at historical data, and projection them in tot he future with some sort of mathematical model.
Is logistic management and operation management are same?
Is logistic management and operation management are same?
What is difference between MSc in operation management and MBA in operation management?
The difference between MSc in operation management and MBA in operation management is that MSc in operation management leads to a general manager while the latter leads to an operations manager.
What has the author Adolph G Abramson written?
Adolph G. Abramson has written: 'Operations forecasting' -- subject(s): Economic forecasting, Marketing, Management, Marketing management
What is the difference between MSc in operation management and MBA in operation management?
Msc in Operation Management would be a specialized course in operations whereas an MBA in Operation Management is more of a general management course where you can take a specialization.
Difference between operation management and production management with examples?
the difference between production management and operation management?
What are the Forecasting Techniques in Management?
1.Quantitative 2.Qualitative
What has the author William King Benton written?
William King Benton has written: 'The use of the computer in planning' -- subject(s): Business, Data processing 'Forecasting for management' -- subject(s): Economic forecasting, Management, Methodology
What are the different functions of production and operation management POM within the business organization?
production and operation management function
What is Oracle Demantra?
It is an analytical engine, used for forecasting the anaytical report for business. Demantra -Its a Process from "Deman"d Management to "Tra"de Planning Includes 4 stages/modules : 1. Demand Management 2. Advanced Trade Planning and Demand Management 3. Sales and Operation Planning 4. Predictive Trade Planning Thanks, Naveen
