Analytical Methodologies and Techniques to Solve Operational Problems – Business Assignment Help

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Assignment Task :

Assessment Information

This assignment is designed to assess learning outcomes:

LO1: Demonstrate a critical understanding of the use of analytic methodologies in Operations Management and Logistics, with a particular emphasis on the Forecasting function.

LO2: Demonstrate a comprehensive understanding and application of the methods, tools and techniques of analytics modelling and simulation used to solve real business problems.

LO3: Critically apply various analytical methodologies and techniques to solve operational problems

 

1. Overview. An overview of the organization and the scope of that operational area. For example, if you choose, “demand planning and forecasting”, discuss to what extent the operations of the organization are shaped and influenced by this function, and its contribution to organisational performance. 

2. The planning environment and the key variables. Use an appropriate framework or methodology to identify and discuss the key decisions, which need to be made in this

operational area and the important variables to be considered. For example, if you choose, “demand planning and forecasting” you can make use of the PHIVE framework to guide your thinking and identify the key decisions which forecasting supports. If you choose inventory, you may consider discussion of the inventory management system

adopted e.g. periodic or perpetual inventory, and the key elements of the system, e.g. nature of demand, planning period, lead-time, order size, and costs.

3. The organisation’s analytic capabilities in this operational area. An analysis of the operation’s process, and the key analytical tools and resources, which support this process. You should include at least one own illustration e.g. process map or applied inventory control model diagram.

For example, if you choose Inventory, then you can discuss the inventory management process and analytics capabilities of the organization in this regard e.g. do they use ABC analysis or what is the scope of the inventory forecasting.

4. Discussion and analysis of the application of ONE key Analytics Tool or Model. Discussion of a major operations analytics tool or model employed in this part of the organisations operations. If you choose Inventory, this may for example include the use of tools such as ABC analysis. If the

organisation does not adopt any inventory analytics tools, then you may propose the application of a tool or model e.g. Economic Order Quality or Safety Stock model. Note that this discussion must be technical in nature, and must include at le

 

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