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May 02, 2023

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It is of great significance for an organization set up to incorporate an Enterprise resource planning system (ERPS) as it streamlines and automates business operations daily. It increases the organization’s competitive advantage, cost-saving abilities, proper demand forecasting, customer service, system flexibility, reliability of data, customization of reports, increased productivity, and compliance of regulations just to mention a few of its positive contributions to the success of an organization.

For a successfully reliable economical process in a production section of an organization, it is important to incorporate systems for production planning and control. The two subsequent processes require an adaption of product design and confirmation procedures. Both processes address a crucial challenge of the utilization of resources, management of inventories, and low levels of production that do not meet the targeted market. The Production team is responsible for scheduling dispatches, quality management, and inspection, equipment and supply management.

It is not recommendable to wait for orders to initiate planning, this may cause difficulties in manufacturing by straining financial resources, and may also cause loss of customers (Juneja, 2015). An effective production planning forecast involves the following procedure;

  1. Selection of forecasting method- this includes the use of regression analysis, moving average, and exponential smoothing. Regression analysis involves the use of a single line chart to monitor moving average with time while moving average focuses specifically on the production average of a particular period, and exponential period compares current demands over the most recent prediction.
  2. Proper studying time- due to customer demand changes and unexpected market trend variance, short term studying is recommended over long term studding
  3. Future production can also be projected from the organization`s previous operations. This is done by specifically observing customers` demands over time.
  4. Choosing appropriate market trends which must work relatively to customers` expectations and demand, is a guide to which extent demand may increase or decrease.
  5. Creation Final Plan- after identification of product delivery requirements, choices available for pre-ordering, availability of finances, and employee requirements a final production schedule is prepared. Schedule     Once you know your product delivery needs, pre-order production options, cash flow situation, and labor needs, create your final production schedule.

2. Development Of Risk Assessment Matrix

Risk management requires identifying, analyzing, and responding to factors that are facilitating the risks. It forms a crucial sector that facilitates purchasing and supplying processes. Therefore an organization needs to identify and assess those risks and address them strategically. Assessment matrices are safety standard measures applied in risk evaluation. Depending on the needs of an organization a matrix grid is used to allocate risk to an equivalently estimated number which represents the risk scope through a combination of probability *severity.

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