Extensions Help Arial Y 1 Last edit was seconds ago 11 + BI UA 2 1 3 GO 4 T LA 5 FI 1. What are 2 examples of variables that can have a correlation to the demand/forecast of a product your company makes? 2. What does it mean when we say we use the BOM to do an MRP 13 explosion? 3. Explain what do we call "Strategic Stock". Give an example of when this could be triggered I == |||
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The concept of demand in economics refers to a consumer's desire to buy products and services and willingness to pay a particular price for them. The amount of a commodity that a consumer is able and willing to purchase, at each possible price, over a specific time period is known as demand. Quantity, ability, willingness, prices, and time period are crucial components of demand. The fundamental law of demand states that, when all other factors are held constant, the relationship between price and quantity demanded is inverse. Price increases reduce consumer demand for all goods and services.
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