Bullwhip Effect
This operational step occurs when the buyer estimates what the short-term demand requires for a specific group of items or a category.
What is forecasting?
This global event caused the panic buying of toilet paper causing shortages in 2020.
What is COVID-19?
This business practice involves suppliers, distributors, and retailers working together to improve operations.
What is coordination/collaboration?
This consumer behaviour occurs when they fear products may become unavailable.
What is panic buy?
This practice involves sharing demand forecasting, inventory status with your supply chain partners.
What is information sharing?
These disruptions include, but not limited to, trade restrictions, tariffs, regional conflicts, etc.
What is geopolitical?
This term refers to the ability of organizations to know where their products are across the supply chain from suppliers to the end users - customers.
What is supply chain visibility?