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FORECASTING METHODS
Before deeply explaining each of them, it should be known that there exist 3 different forecasting methods, and they are the following:
QUALITATIVE - TIME SERIES - SIMULATIONS
From these mentioned, several forecasting methods are deployed such as the Delphi method, market research, simple moving average, weighted moving average, exponential smoothing, time regression analysis, Monte Carlo, among others.
Process reengineering involves the radical redesign of business processes to achieve dramatic improvements in productivity, cycle times and quality.
Quality Management refers to programs that affect the improvement of work processes. Process improvement projects would be placed in this line. These would be incremental improvements achieved through the continuous improvement cycle (PDCA). Process reengineering refers to discrete initiatives that aim to radically redesign processes in a limited time frame. The aim here is not so much to improve ineffective and/or inefficient processes, but to transform them completely.