INTI INTERNATIONAL UNIVERSITY
BACHELOR OF BUSINESS (HONS) LOGISTIC AND SUPPLY CHAIN MANAGEMENT
MGT4239: OPERATIONS MANAGEMENT
A Case Study
Total 100 marks (30% of the coursework component)
i. Students’ answers may be different from the framework for answers. This should be acceptable as long as each answer is logically explained.
ii. In the event that the student’s answer is not included in the “framework for answers”, the examiner should mark based on the merit of logic and quality of discussion.
LO3: Construct underlying framework or management approaches of operations. (P5, PLO6)
The teaching objectives for this case are to:
- Introduce students to the forecasting approach.
- Compute measures of forecast accuracy.
Forecasts are a critical part of the operations manager’s function. Demand forecasts drive a firm’s production, capacity, and scheduling systems and affect the financial, marketing, and personnel planning functions. There are a variety of qualitative and quantitative forecasting techniques. Qualitative approaches employ judgment, experience, intuition, and a host of other difficult to quantify factors. Quantitative forecasting uses historical data and causal, or associative, relations to project future demands (Heizer, Render & Munson, 2017).
CEO Ms. Annie Wang, at Malaysia Power and Light, has been collecting data on demand for electric power in its western subregion for only the past 2 years. Those data are shown in Table 1 below. To plan for expansion and to arrange to borrow power from neighboring utilities during peak periods, Goodale needs to be able to forecast demand for each month next year. However, the standard forecasting models discussed in this chapter will not fit the data observed for the 2 years.
a) Construct all the weaknesses of the standard forecasting techniques as applied to this set of data?
b) Because known models are not appropriate here, propose your own approach to forecasting. Although there is no perfect solution to tackling data such as these (in other words, there are no 100% right or wrong answers), justify your model.
c) Forecast demand for each month next year using the model you propose.
|DEMAND IN MEGAWATTS|
|No||Assessment criteria||Weighting (%)|
|Briefly discuss why the forecasting approach is important for companies||5%|
|The organisation of the assignment- no grammatical error, page number, cover page, alignment etc.||5%|
|Harvard Referencing with proper citations- acceptable format||5%|
|TOTAL||100% (30% Marks)|
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