Demand Forecasting, Inventory, and Lean Management
Demand Forecasting
Demand Forecasting Defined
A demand forecast estimates future demand over a specified time. Forecasts are crucial inputs for various organizational decisions. In operations management, demand forecasting is vital for:
- System design
- Medium-term system planning
- Short-term system scheduling
Characteristics of a Good Forecast
Effective forecasts are:
- Timely
- Accurate
- Reliable
- Meaningful
- Easy to understand
- Cost-effective
Forecasting Process
- Define the forecast’s purpose.
- Establish a forecasting horizon.
Occupational Safety and Health Management Systems
ILO Technical Guidelines
The Occupational Safety and Health (OSH) management system comprises five parts: work health and safety policy, organization, planning and implementation, evaluation, and action. This section focuses on planning and implementation:
1. Initial Review
This involves consulting workers and their representatives and includes:
- Identifying legislation
- Hazard identification and risk assessment to determine the adequacy of controls and preventive measures
- Analysis of accidents and occupational
Workplace Ergonomics and Facility Layout
Distribution Criteria for Flexibility
Designed with flexible criteria to predict and adapt to future technology changes and other factors.
Principle of Total Integration
Harmonizes space needs and worker demands with production, coordinating all factors for improved safety, efficiency, and control.
Principle of Safety and Comfort
Considers environmental factors (light, humidity, temperature, contaminants) and establishes acceptable thresholds for both normal operations and maintenance activities.
Principle
Read MoreCompany Culture, Ethics, and Social Exclusion
Company Network
A network of contacts among agents, energizing their internal structure. Companies, especially multinationals, adapt to markets and technologies through internal decentralization. Subsidiaries, departments, and product lines have autonomy, even competing with each other. SMEs form collaborative networks for flexibility and resource concentration. Networks of small firms work for large ones, creating intersecting networks. The company network ensures flexibility but has adverse effects.
Read MoreComputer Simulation Fundamentals
Introduction to Computer Simulation
Introduction
When someone has the responsibility of running a system, such as a bank or a city transportation system, they must continually make decisions about the actions performed on the system. These decisions should result in the best possible objectives for the system’s behavior. To decide properly, you need to know how the system will respond to a certain action. This could be done by experimentation with the system itself, but cost factors, security, and
Read MoreEssential Cybersecurity Concepts: Pillars, Protections, and Policies
Basic Pillars of Cybersecurity
Confidentiality
Information can be accessed only by authorized persons. Confidentiality can be threatened if someone intercepts data packets during transmission.
Integrity
Assurance that information has not been deleted, copied, or altered during transmission or storage.
Availability
Measures taken to prevent damage to information and access disruptions caused by strikes, accidents, or oversights.
Authenticity
Verifies that a file is genuine. Integrity confirms it hasn’t been
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