Managing and Forecasting

MANAGEMENT AND
FORECASTING
CHAPTER 1
JF607

MANUFACTURING PROCESS
MANAGEMENT

1.1 Describe management in manufacturing
1.1.1 Define the term of management
1.1.2 Describe the basic functions of management
a. Planning
b. Organizing
c. Staffing
d. Directing
e. Controlling

MANUFACTURING PROCESS
MANAGEMENT

1.2 Explain organization and planning
1.2.1 Define the basic principle of an organization and terms of organization
a. Authority
b. Duties
c. Responsibility
d. Accountability
1.2.2 Explain the product oriented organization and functional oriented
Organization
1.2.3 Explain the planning horizon for an organization: long, medium, and short term planning

MANUFACTURING PROCESS
MANAGEMENT

1.3 Explain Manufacturing Planning and Control (MPC)
1.3.1 Describe the importance of manufacturing planning and control (MPC)
1.3.2 Explain five major levels in manufacturing planning and control system
a. Strategic business plan
b. Production plan
c. Master Production Schedule (MPS)
d. Material Requirements Plan (MRP)
e. Purchasing and Production Activity Control

MANUFACTURING PROCESS
MANAGEMENT

1.4 Understand forecasting
1.4.1 Explain methods of forecasting
a. Moving Average Forecasting
b. Weighted Moving Average Forecasting
c. Exponential Smoothing Forecasting
1.4.2 Solve typical problems using above approaches 1.4.3 Determine the forecast errors using
a. Mean Absolute Deviation (MAD)
b. Mean Squared Error (MSE)
c. Mean Absolute Percent Error (MAPE)

MANAGEMENT
Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively.
Management comprises planning, organizing, staffing, leading or directing, and controlling an organization
(a group of one or more people or entities) or effort for the purpose of accomplishing a goal.
Resourcing encompasses the deployment and manipulation of