For this competency-level demonstration of mastery, you will summarize how the concepts in Competency 3 are applied to a situation in the real world. You will need to complete the following steps:
Locate a recent article (from within the last 5 years) from the library’s databases OR interview a business leader about how a time series pattern, a linear trend projection, or a seasonality model has been used to resolve a forecasting problem.
Summarize the problem presented in the article or interview.
Explain the objective function and constraints the business faced in relation to this problem.
Describe the linear programming model used to solve this problem.
Provide the optimal solution presented in the article or interview.
Summarize the final outcome of the implementation of the solution.
Incorporate citations from the lecture videos.
Include your perspective of operations management in the modern economy, and how a Christian worldview affects organizational decision-making. How might a Christian worldview be used to assist in the forecasting problem discussed in this paper?