UA OM 300 Chilcutt Final Questions With Complete Solutions
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Course
OM 300
Institution
OM 300
UA OM 300 Chilcutt Final Questions With
Complete Solutions
Critical Path sequence of activities that determine the earliest date by which the project
can be completed
Project Manager coordinate activities with other departments and reports directly to top
management
Crash A Project The pro...
UA OM 300 Chilcutt Final Questions With
Complete Solutions
Critical Path sequence of activities that determine the earliest date by which the project
can be completed
Project Manager coordinate activities with other departments and reports directly to top
management
Crash A Project The process by which we shorten the duration of a project in the cheapest
manner possible
Forecasting Time Horizons (Short Range) This forecast has a time span of up to 1 year but
is generally less than 3 months. It is used for planning purchasing, job scheduling, workforce
levels, job assignments, and production levels.
Forecasting Time Horizons (Medium Range/ Intermediate) forecast generally spans from
3 months to 3 years. It is useful in sales planning, production planning and budgeting, cash
budgeting, and analysis of various operating plans.
, UA OM 300 Chilcutt Final Questions With
Complete Solutions
Forecasting Time Horizons (Long Range) Generally 3 years or more in time span, long-
range forecasts are used in planning for new products, capital expenditures, facility location or
expansion, and research and development
Types of forecasts (Economic Forecasts) address the business cycle by predicting inflation
rates, money supplies, housing starts, and other planning indicators.
Types of forecasts ( Technological Forecasts) are concerned with rates of technological
progress, which can result in the birth of exciting new products, requiring new plants and
equipment.
Types of forecasts ( Demand Forecasts) are projections of demand for a company's
products or services. Forecasts drive decisions, so managers need immediate and accurate
information about real demand. They need demand-driven forecasts, where the focus is on
rapidly identifying and tracking customer desires. These forecasts may use recent point-of-sale
(POS) data, retailer-generated reports of customer preferences, and any other information that
will help to forecast with the most current data possible. Demand-driven forecasts drive a
company's production, capacity, and scheduling systems and serve as inputs to financial,
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