Conclusion
From this project and from the class lectures I have received an understanding of how how much planning goes into even the most simplest of manufactured goods. Production managers must employ at least one type of forecasting method in order to avoid the everyday stock outs, late deliveries and labor problems that arise. Forecasts are vital to every business organization and for every significant management decision.
Afterthought
I feel that I could have further reduced costs by reducing some of the parts, sub assemblies and outsourcing some of the production. Another situation that I felt was unrealistic was that there was only one source for each part and when that part was unvailable, there was a stock out. Perhaps in future projects there can be allowance for this.
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