Application of Operations Management Techniques in ASUS, Bangladesh
1. Introduction of Operations Management
Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed, and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs in the forms of materials, labor, and energy into outputs in the form of goods and or services.
2. Role of Operations Management in organizations
Operations management provides versatile activities of a particular organization. Operations Management Implies of an efficient forecasting techniques to predict the future demand of the produced final products & as well as taking the corrective decisions regarding the production planning and inventory management. It could be denoted as one of the major tasks of the operation management team of that firm. Different forecasting methods are being used in every aspect of today’s modern business.
3. Forecasting Method
Through intensive study, it has been found that, forecasting study works best while recognized models are used together. There are various types of forecasting methods such as: Qualitative study, Time series analysis, Causal method etc. For this particular assignment, we have used some methods of Time series analysis like Simple Moving Average, Single Exponential Smoothing, and Regression Analysis etc. Various models, mostly quantitative time series models have been used to determine the forecasted future monthly sales quantity of Laptops for the month of November 2013. For the simplicity of the work, actual monthly sales data have been taken from the November month of the year 2012 till to the second last month of the year 2013 (12Months). There are various methods of measuring errors like MAD (Mean absolute deviation), TS
Operations management is an area of management concerned with overseeing, designing, and controlling the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed, and effective in terms of meeting customer requirements. It is concerned with managing the process that converts inputs in the forms of materials, labor, and energy into outputs in the form of goods and or services.
2. Role of Operations Management in organizations
Operations management provides versatile activities of a particular organization. Operations Management Implies of an efficient forecasting techniques to predict the future demand of the produced final products & as well as taking the corrective decisions regarding the production planning and inventory management. It could be denoted as one of the major tasks of the operation management team of that firm. Different forecasting methods are being used in every aspect of today’s modern business.
3. Forecasting Method
Through intensive study, it has been found that, forecasting study works best while recognized models are used together. There are various types of forecasting methods such as: Qualitative study, Time series analysis, Causal method etc. For this particular assignment, we have used some methods of Time series analysis like Simple Moving Average, Single Exponential Smoothing, and Regression Analysis etc. Various models, mostly quantitative time series models have been used to determine the forecasted future monthly sales quantity of Laptops for the month of November 2013. For the simplicity of the work, actual monthly sales data have been taken from the November month of the year 2012 till to the second last month of the year 2013 (12Months). There are various methods of measuring errors like MAD (Mean absolute deviation), TS
Bibliography: Sources used in this report have followed theories and information from the following books and corporate office: 1. Chase; Aquilano and Jacobs (2000), “Production and Operations Management: Manufacturing and services” (8th ed.), Irwin- McGraw Hill. 2. ASUS Bangladesh (2013), ASUS Products. Retrieved November 26, 2013, from http://www.asus.com/bd/.