Question

1:30 docs.google.com Please define static demand: (2 Marks) Your answer Please discuss five activities as discussed in class, that may take place during the execution process in a typical manufacturing production plan. (5 Marks) Your answer Please define stock-Keeping Unit SKU's: (2 Marks) Your answer With respect to the Bullwhip effect, please discuss in your own words on what order amplification and is and why purchasers will use it. (5 Marks) Your answer

Answer 1

1. Static demand means the demand for a good or any static product or which cannot be changed even when the price changes. Static demand is also said to be inelastic and known as in elasticity of demand.

2. Five activities that may take place during the execution process are as follow:

-the coordination required between people and their resources.

-the execution process should meet the goals which are prefixed or decided.

-conflicts should be solved so that it doesn't affect the process.

-monitoring the team performance while executing the process so that it meet the ends.

-the risk should be minimized while managing or performing, and corrective actions should be taken.

3. Stock keeping units can be defined as a barcode design for businesses to differentiate their goods and services for internal working. For example, a shoe store can create an internal stock-keeping unit (SKU) by-product retailing through its color, size, price, brand, style.

4. Bullwhip effect is an effect sac shows the result by slow-moving consumer demand that creates a large hike production for suppliers. Bullwhip effect is also referred to as order amplification sometimes as order variability moves upstream in the supply chain when multiple suppliers orders in buffer manner. It becomes essential when the goods' cost fluctuates in ordering out weights than the cost of holding inventory.