Task 7 Quality and Forecasting

Explain basic concepts, techniques, methods, applications and challenges of operations management.
Conduct benchmarking in relation to other industries for quality management
Describe the tools needed to implement effective forecasting (Qualitative, Time Series Analysis and Casual Relationships).
In order to accomplish this assignment you will need to complete the following research:

SAMPLE SOLUTION

Operations management can be defined as an area of management which deals with designing and controlling production processes as well as re-designing the business operations in producing goods and services. The concept of operations management applies both in the public and the private sectors as well as in governments. According to Ho et al., (2017) some of the principles of operations management include teaming up with customers, ensuring continued and rapid improvement, investing in human resource management and organizing the resources to be used. There are notable challenges associated with operations management. Some of the challenges include globalization which is the challenge associated with how people, companies and government integrate (Torlak et al.,2019). Others are sustainability where businesses fail to maintain existing practices without necessarily putting the future resources at risk. Another challenge is notable unethical cond…