How will each of the following changes in demand and/or supply affect equilibrium price and equilibrium quantity in a competitive market; that is do price and quantity rise, fall, remain unchanged, or are the answers indeterminate, depending on the magnitudes of the shifts in supply and demand? You should rely on a supply and demand diagram to verify answers.
a. Supply decreases and demand remains constant.
b. Demand decreases and supply remains constant.
c. Supply increases and demand is constant.
d. Demand increases and supply increases.
e. Demand increases and supply is constant.
f. Supply increases and demand decreases.
g. Demand increases and supply decreases.
h. Demand decreases and supply decreases
(a) Price up; quantity down.
(b) Price down; quantity down.
The solution discusses the nature of supply and demand on the equilibrium price and equilibrium quantity in a competitive market.
Forecasting errors in Supply Chain including effects to other parts of a business
See the attachment: A telling fortune. Industrial Engineer.
This article discusses the forecast errors that can occur across a supply chain. This article also gives an example of how one company solved their forecasting problem by providing incentives to customers for early orders.
1. How would these forecasting errors affect other areas within the organization? Thoroughly address the following four points:
C. Customer service
2. Identify and discuss critical areas of the supply chain. (Where can small errors could result in problems that intensify down the chain?)
3. Describe two errors in critical areas of the supply chain.
4. Describe how the areas could gain momentum and affect the supply chain.
5. Describe how at least three other areas that could be severely affected by errors in supply chain management.
Please respond thoroughly to the above points.View Full Posting Details