Ways to reduce dependence on forecasts, that normally make the least economic sense: a. Reduce your product variety in terms of product sizes and colors to the extent possible, keeping competitor offerings in mind b. Buy reserve capacity on a regular basis for demand surges c. Reduce supplier lead times (period from date of order placement to receipt of supplies) and lead time variability to the extent possible d. Identify and offer substitute products to the extent possible

Ways to reduce dependence on forecasts, that normally make the least economic sense: a. Reduce your product variety in terms of product sizes and colors to the extent possible, keeping competitor offerings in mind b. Buy reserve capacity on a regular basis for demand surges c. Reduce supplier lead times (period from date of order placement to receipt of supplies) and lead time variability to the extent possible d. Identify and offer substitute products to the extent possible

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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