OMC102 Forecasting for Production

Are your forecasting skills up to the test? Forecasting is a critical element in virtually every significant management decision. Students will discover how accurate forecasting enables a manager to select the right combination of human and material resources needed to produce goods or services for customers.

Students will examine and discuss several scientific and mathematical forecasting models. A definition of forecasting will be presented, along with a discussion of differences between quantitative and qualitative forecasting methods. Accuracy and control forecasts are addressed, as well as forecasting in operations. Additional topics include:

• data sources and accumulations

• simple, moving and weighted moving averages

• single exponential smoothing

• linear regression

• treating seasonal variations and cycles

Students must bring a calculator to class.

Prerequisite: OMC101

It is recommended that students have a good understanding of mathematics.

Hours: 14.00

Register now for:
	eLearning Section OLB - Feb 20 to Mar 16, 2012 Campus: Online Fee: $450
Enrollment begins Jun 1, 2012 For additional information, please call 780-471-6248 or email asknait@nait.ca	eLearning Section OLA - Aug 30 to Sept 21, 2012 Thu, 7:00 pm - 9:00 pm Fri, Sep 21, 7:00 pm - 9:00 pm (ONLINE) Campus: Online Fee: $450
Enrollment begins Jun 1, 2012 For additional information, please call 780-471-6248 or email asknait@nait.ca	eLearning Section OLB - Feb 7 to Mar 1, 2013 Thu, 7:00 pm - 9:00 pm Fri, Mar 1, 7:00 pm - 8:00 pm (ONLINE) Campus: Online Fee: $450

Last Updated: 2/11/2012 7:57:54 PM