Question: Defining in your own words 4 concepts, two from each of the Chapters in the below table; Explaining the context in which each concept applies;
Defining in your own words 4 concepts, two from each of the Chapters in the below table;
Explaining the context in which each concept applies;
Applying it to a specific business or personal example.
Illustration of above three steps using: Evidence-based management
Definition A decision making approach in which data or facts pertaining to the issue are analyzed before making a final decision.
Context This can be applied by any company small or big. For example, before launching a new product or service, the company will use a sample to test the market, collect evidence of how the product is performing and analyze it before deciding to go into full scale manufacture.
Personal/Application On a personal level I can use evidence-based management when I am about to make a major or even minor decision about my career or purchase of a product or service. To do that I would gather as much information as possible about the alternatives I have before me and use those fact to inform my decision. For a career choice, for example I would create a LinkedIn profile and use it to track companies I am interested in by reading reviews about the company and even interviewing employees at the company. For personal purchase, I would track the product reviews on the product website and use it to decide whether or not I should purchase it.
4) Contributing at least three (3) additional substantive insights to the discussion.
| Chapter | Concepts | Definition | Context | Personal Example |
| 8. Sales and operations planning | 1. The relationships among manufacturing, logistics, service, and marketing plans |
|
|
|
|
| 2. Aggregate planning techniques |
|
|
|
|
| 3. Yield management |
|
|
|
| 9. Material requirements planning | 1. The relationships among MR, ERP, and MPS |
|
|
|
|
| 2. MRP lot-sizing techniques |
|
|
|
|
| 3. MRP system structure |
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
