Bullwhip Effect
This operational practice when a buyer estimates a group of items or a category.
What is forecasting?
This global event caused panic buying of the toilet paper led to major shortages in 2020.
What is COVID-19?
This business practice involves buyers, suppliers, distributors, and retailers working together to improve operational requirements.
What is coordination/collaboration?
This occurs when customer demand suddenly increases for a product, causing the organizations to react inventory orders aggressively.
What is demand spikes?
This consumer behaviour occurs when people fear products may become unavailable.
What is panic buy?
This practice involves sharing demand forecasting, inventory status with buyer, suppliers, logistics/transportation.
What is information sharing?
This supply chain phenomenon occurs when customer demand creates a large fluctuation throughout the supply chain.
What is bullwhip effect?
These disruptions involve trade restrictions, tariffs, political instability.
What are geopolitical disruptions?
This term refers to the ability of organizations to know where the products across the supply chain from suppliers to the end users – customers.
What is supply chain visibility?