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Organizational production processes may sometimes not have exact numbers for the raw materials needed for production processes. Therefore, they must engage in forecasting.

 
 
1. What is forecasting, and why does it matter in production management?
 
 
2. Discuss the following two forecasting methods in production management——Simulation and Moving Averages.
 

BBA 4851, Production Management 1

Course Learning Outcomes for Unit III

Upon completion of this unit, students should be able to:

3. Analyze the application of different forecasting approaches and methods.
3.1 Develop a survey in order to facilitate a forecast of demand.
3.2 Explain how survey questions and other opinions will contribute to a forecast.

Course/Unit
Learning Outcomes

Learning Activity

3

Lessons 1, 2, 3, 4, and 5
Mathematical Patterns May Help Forecast Future Crimes video
“Drone Delivery Gets Sky-High Approval” article
Trend Analysis: Why Do Businesses Fail? video
Regression Plots video
“The Great Recession” article
Forecasting in Business video
Case Study

3.1
Lessons 1, 2, 3, 4, and 5
Using Focus Groups in Research video
Case Study

3.2

Lessons 1, 2, 3, 4, and 5
“Improving Forecasts for Better Decision-Making” article
Calculating the Regression Line video
“New York After 9/11: Description, Limited Analysis” article
Case Study

Reading Assignment

All of the required reading assignments can be found within the interactive lessons. Be sure to open the
required reading and video links in the lessons as you may be tested on your knowledge and understanding
of that material as well as the information in the unit lessons.

Unit Lesson

Please be sure to maximize your Internet browser so that you can view each individual lesson on a full
screen, ensuring that all content is made visible.

Click here to access Unit III – Lesson 1.

Click here to access the presentation transcript.
Click here to access the Mathematical Patterns May Help Forecast Future Crimes video transcript.

UNIT III STUDY GUIDE

Forecasting

BBA 4851, Production Management 2

UNIT x STUDY GUIDE

Title

Click here to access Unit III – Lesson 2.

Click here to access the presentation transcript.
Click here to access the Using Focus Groups in Research video transcript.

Click here to access Unit III – Lesson 3.

Click here to access the presentation transcript.
Click here to access the Trend Analysis: Why Do Businesses Fail? video transcript.

Click here to access Unit III – Lesson 4.

Click here to access the presentation transcript.
Click here to access the Regression Plots video transcript.
Click here to access the Calculating the Regression Line video transcript.

Click here to access Unit III – Lesson 5.

Click here to access the presentation transcript.
Click here to access the Forecasting in Business video transcript.

Learning Activities (Nongraded)

Nongraded Learning Activities are provided to aid students in their course of study. You do not have to submit
them. If you have questions, contact your instructor for further guidance and information.

A Check For Understanding activity can be found within Lesson 1.

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