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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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