5

Matching supply and demand

Reduced to its basic essence, the goal of supply chain management is very simple – to try to match supply and demand. However, what makes this seemingly simple task so difficult in reality is the presence of uncertainty. In other words for most organisations, on both the supply side and the demand side, there can be no certainty what tomorrow will bring. This uncertainty brings with it a serious challenge to the classic practice of running a business on the basis of a forecast. The levels of volatility and ...

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