What is demand management? Discuss some real-life examples of how companies use this as a resource planning strategy. (One Paragraph, IN UR OWN WORDS Please)!!!
Demand management means to forecast the demand of various goods and services in future because it is helpful to the various companies in meeting the extra demand which will arise in future.Such demand management is very helpful to organisations because organizations become very alert in advance only so that they should not face any type of problem when the demand will actually rise in future.Thus,different important decisions are being taken at present so that the production department should increase its efficiency and working which would be helpful in meeting such hike in demand levels. Such decisions help the organization in grabbing the benefit of increased demand level and earn huge profits during that high demand level.
I have seen many organisations doing such activities because nowadays competition has increased in a very speedy manner due to which the organizations have to become prepared in advance only so that they can capture a big market share.
What is demand management? Discuss some real-life examples of how companies use this as a resource...
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