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Topic of discussion: Forecasting

 

The best way to start a business in a country like Pakistan requires in depth forecasting. Being an expert as production/ operation manager you are asked to provide forecasting for starting a new business of establishing a milk plant. You have to provide a point wise forecasting for setting up this business keeping in mind the Pakistani scenario and be specific to the tasks of production/operations manager only.

 

Note: Your answer should be in point forms and should be between 5-8 points. No irrelevant details should be included.

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Replies to This Discussion

Forecasts affect decisions and activities throughout an organization
1. Accounting, finance
2. Human resources
3. Marketing
4. MIS
5. Operations
6. Product / service design Forecasts affect decisions and activities throughout an organization
1. Accounting, finance
2. Human resources
3. Marketing
4. MIS
5. Operations
6. Product / service

lec 16 me to capasity planning  k bary me he jab k ham my being operaiton manger forcastin k bary me batana he

lecture 5 is most beneficial to solve this gdb plz study lec 5. good luck to all..........

ham ny to forcasting karne he step wise but lecture 5 me productivity k bary me he

to startup a new business we have to look over the 

environment of the country

availability of sources

law n order situation

location

dairy availability

following points kept in view

Build up cash reserves

start small level business

Don't be a loner

Map out your path to profit

Create a business plan

Market early and often

Highly responsible people

Stay focused on core competencies

Pay bills on time

 first we need to know that what is forecasting actually ?

Forecasting:

Forecasting is the use of historic data to determine the direction of future trends. Forecasting is used by companies to determine how to allocate their budgets for an upcoming period of time. This is based on demand for the goods and services it offers, compared to the cost of producing them.

Now Requirement is:

The best way to start a business in a country like Pakistan requires in depth forecasting. Being an expert as production/ operation manager you are asked to provide forecasting for starting a new business of establishing a milk plant. You have to provide a point wise forecasting for setting up this business keeping in mind the Pakistani scenario and be specific to the tasks of production/operations manager only.

As we are going to start the new business so, There are so many techniques, modern as well as classical to brief this point. 

Steps include to start a new business,

For examples:

Capital structure/ feasibility plan i.e. land, equipment, resources etc after that workforce resources, budgeting n scheduling planning inventory predict profits, revenues, costs  planning production methods.

You can observe many things from the milk shopkeeper what is he doing, what he brought milk, what type of resources he utilized, who are the customers, marketing, etc.

 

Forecasts affect decisions and activities throughout an organization
1. Accounting, finance
2. Human resources
3. Marketing
4. MIS
5. Operations
6. Product / service design Forecasts affect decisions and activities throughout an organization
1. Accounting, finance
2. Human resources
3. Marketing
4. MIS
5. Operations
6. Product / service
-----------
few point for forecasting to start new business is first
1. location for plant
2. availability of electric city
3. avaibability of water
4. availability of labour
5 Source of financing

---------
Lec#16 pg#66 Refer for the answer--

demand for the product, potential customers and market of the product will also be in forecast, legal ,ethical. economical and environmental  issues also have to look at while manufacturing a new product. 

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