PROBABILITY AND RANDOMNESS
Session Long Project
For the session long project discuss how probabilty or randomness impacts your organization, such as scheduling, order shipments, inventory control, etc.
You may choose one of your favorite organizations (APPLE INC). Collect your own data to support your argument and assess cultural, international and/or global perspectives in business.
Turn in your two to four page paper by the Module due date.
LP Assignment Expectations
1. Answer questions with clarity.
2. Show depth and breadth in your paper to enhance the quality of your paper.
3. Search in our library to find papers/articles to support your argument and list them in the references.
I need help with this for Apple Inc.
NOTE: This tutorial serves as a guide for writing the final paper on the impact probability or randomness on Apple, Inc.'s inventory scheduling, order shipments and inventory control.
First, probability as regards to inventory control and management refers to the likelihood that a specific event that can significantly impact inventory will happen. For example, the likelihood that the global economy will go into recession can have significant impact on how much, say, iPhone 6 will Apple sell on the phone's release quarter, and consequently, how many the company should produce, how many iPhone-related spare parts or raw materials should the company order, etc. That these events can be reasonably predicted.
Second, randomness, on the other hand, is the opposite of probability - that events needed to reasonably forecast sales which is ...
This solution of 497 words discusses the impact of randomness and probability on Apple's inventory management and control system. References used are included.