PRODUCTION/OPERATIONS MANAGEMENT (MGT613)

ASSIGNMENT NO.1

SPRING 2021

Due Date: June 08, 2021

Learning objectives:

The students will be able to know the importance of procedural steps for a proper forecast. They
will also be able to understand the elements of a good forecast.

Scenario:

Gulzar Limited is a newly established firm that operates in city of Sialkot. The company deals in
manufacturing of sports items. The company has recently entered into third year of its
operations. The CEO of the company is concerned about its vanishing profits. He considers this
drastic and regular decline in profits as a failure of proper items forecasts for the production unit.
As a result of this failure, the company has lost sales in terms of low production whereas at other
points, it resulted in excessive inventory in stores. Both the situations are contributing towards
organizational diminishing profits.

Questions:

Keeping in mind the above scenario and information gained being a student of this course,
answer the following questions:

1. How will you guide the CEO about the proper steps that must be followed during the
forecasting process? (List down all the steps while going through a forecasting process).
Marks: 5

2. What are the elements of a good forecast that CEO make sure to be incorporated while
designing the forecast for their manufactured items?
Marks: 5

Note:

• Provide your answer in bulleted form.

• Avoid irrelevant and unnecessary details.
• Your solution must NOT exceed 500 words.
Important Note:

24 hours extra / grace period after the due date is usually available for assignment to overcome
uploading difficulties. This extra time should only be used to meet the emergencies and above
mentioned due date should always be treated as final to avoid any inconvenience.

Other Important Instructions:

Deadline:

• Make sure to upload the solution file before the due date on VULMS.
• Any submission made via email after the due date will not be accepted.

Formatting guidelines:

• Use the font style “Times New Roman” or “Arial” and font size “12”.
• It is advised to compose your document in MS-Word format.
• You may also compose your assignment in Open Office format.
• Use black and blue font colors only.

Referencing Guidelines:

• Use APA style for referencing and citation. For guidance search “APA reference style” in
Google and read various websites containing information for better understanding or visit
http://linguistics.byu.edu/faculty/henrichsenl/apa/APA01.html

Rules for Marking

Please note that your assignment will not be graded or graded as Zero (0), if:

• It is submitted after the due date.

• The file you uploaded does not open or is corrupt.
• It is in any format other than MS-Word or Open Office; e.g. Excel, PowerPoint, PDF etc.
• It is cheated or copied from other students, internet, books, journals etc.