100% tevredenheidsgarantie Direct beschikbaar na betaling Zowel online als in PDF Je zit nergens aan vast
Eerder door jou gezocht
Summary Week 3 Team 2 Planning and Controlling in the Manufacturing Sector.doc Planning and Controlling in the Manufacturing Sector OPS/350 Planning and Controlling in the Manufacturing Sector In 1903, Henry Ford incorporated and launched the Ford Motor Comp€5,24
In winkelwagen
Summary Week 3 Team 2 Planning and Controlling in the Manufacturing Sector.doc Planning and Controlling in the Manufacturing Sector OPS/350 Planning and Controlling in the Manufacturing Sector In 1903, Henry Ford incorporated and launched the Ford Motor Comp
15 keer bekeken 0 keer verkocht
Vak
University Of Phoenix UoP
Instelling
University Of Phoenix
Week 3 Team 2 Planning and Controlling in the Manufacturing S Planning and Controlling in the Manufacturing Sector OPS/350 Planning and Controlling in the Manufacturing Sector In 1903, Henry Ford incorporated and launched the Ford Motor Company. It began with a capital base of $28,000 contribut...
week 3 team 2 planning and controlling in the manufacturing sectordoc planning and controlling in the manufacturing sector ops350 planning and controlling in the manufacturing sector in 1903
Geschreven voor
University Of Phoenix
University Of Phoenix UoP
Alle documenten voor dit vak (3706)
Verkoper
Volgen
helperatsof1
Ontvangen beoordelingen
Voorbeeld van de inhoud
1
Planning and Controlling in the Manufacturing Sector
OPS/350
Planning and Controlling in the Manufacturing Sector
, 2
In 1903, Henry Ford incorporated and launched the Ford Motor Company. It began with
a capital base of $28,000 contributed by twelve contributors. In the early years, the company
produced only a small amount of cars daily, using the parts supplied by contracted suppliers
(Oneil, 2020). Today, they are one of the largest auto manufacturers in the world. Ford Motor
Company's operations are the embodiment of several scientific management elements. These
include the standardization of product design, mass production, automated assembly lines, low-
cost manufacturing, diverse and interchangeable parts, the specialization of labor and
forecasting.
Forecasting Techniques
The four primary forecasting techniques are Judgmental Forecasting, Causal Forecasting,
Time-Series Forecasting and Trend Projection with Regression Analysis. All of these
methodologies have elements that are relevant to Ford Motor Company's operations.
Judgmental forecasting is a forecasting method that relies heavily upon elements such as
the opinions of managers, industry experts, estimates and customer surveys. It is used primarily
in situations where there is a lack of historical data or unfamiliar market climates. It is common
practice for most companies, but especially prevalent at the birth of new companies. Several
elements of judgmental forecasting are commonly used: the predictability of the environment,
the accuracy of the information provided the compatibility of the environment and forecaster, the
capacity to consistently gather information, the fidelity of the processing of said information,
conditional bias, and unconditional bias. In Ford's early years, they relied heavily on judgmental
forecasting due to managerial preference of the poor management of data. Ford's profitability
began to suffer post World War II. To remedy this, highly skilled and detailed managers were
brought in and upon taking inventory of Ford's bookkeeping, the issue became apparent. The
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper helperatsof1. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €5,24. Je zit daarna nergens aan vast.
