What do you understand by the terms demand fluctuation and demand patterns? With a neat block diagram explain the material conversion process highlighting the role of material stock points it
Understanding Demand Fluctuation and Demand Patterns:
Demand fluctuation refers to the changes in the demand for a product or service over time. These fluctuations can be caused by various factors such as seasonality, changes in consumer preferences, changes in economic conditions, and others. Understanding demand fluctuations is essential for businesses to be able to forecast demand accurately and adjust their production and supply chain accordingly.
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