OPS510 – The Operations Management Forecasting

OPS 510

carefully review the simulation’s introductory information and instructions, as well as the information in the OM Simulation Descriptions and Implementation Tips. After completing the simulation, capture a screen image of your final simulation results including the rubric evaluation metrics (i.e. MAPE), which are to be included in your Critical Thinking Assignment.

1. The Operations Management Forecasting content, paper or presentation option, must include the following sections:
   • 3.1 Introduction: Explain the purpose or thesis of the paper and explain how the body of the paper is arranged to support the purpose of the paper.
   • 3.2 Provide a brief yet substantive definition of operations management forecasting and identify why it is important in an organization’s operations.
   • 3.3 Provide a brief overview of the Forecasting Simulation including the targeted goals of the simulation.
   • 3.4 Describe specifics about the model or approach used as the basis for your strategy in performing the Forecasting Simulation; in an appendix, include an illustrated (worked-out) example of a formula, calculation, or technique developed as a central part of your Forecasting Simulation strategy.  In approach, typically you will describe how you used combination of quantitative and qualitative methods
   • 3.5 Describe at least three operations management forecasting methods, principles, or techniques experienced in the Forecasting Simulation. Clearly describe hypothesis/rationale as to why you chose those methods and how exactly you used them in the simulation.  Do not describe methods/principles/techniques that you did not use in the simulation.
   • 3.6 Clearly describe your simulation results and indicate how well they met the targeted simulation goals.
   • 3.7 Itemize at least three lessons learned from the Forecasting Simulation and describe how this understanding is important for a career in operations management.  Here you can describe lessons such as (but not limited to only these) any surprises, how you accommodated seasonal variability, how you can improve MAPE further, what method was effective, was there any cause and effect relationship you observed, were your hypothesis worked the way you thought, etc.
   • 3.8 Conclusion should present a recap of key points and summary of main emphasis without repeating verbatim and exclusive of new information.

 

• Your written Operations Management Forecasting paper must contain the sections outlined in the instructions. 
• Don’t forget to include a screenshot of your final simulation results. 

Submit your Critical Thinking Assignment document(s) in the submission area established for this purpose. Per the assignment rubric, a portion of your evaluation is based on your simulation results

· It should be 3-4 pages in length not including the required cover and references pages.

· It should be  with at least 2 peer-reviewed or professionally published sources  Use current sources, not older than 5 years. 

· Format: APA guidelines 

Explanation & Answer

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