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Subject -Purchasing and supply chain management Q.Demand Approach Explanation -correctly and thoroughly explains two or more...

Subject -Purchasing and supply chain management

Q.Demand Approach Explanation -correctly and thoroughly explains two or more approaches to calculate demand for a product in the supply chain.Supported with examples

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Answer #1

The supply chain is the system of an entrepreneur; people and resources are moving to the supplier to the customer. Managing demand is a significant challenge in the supply chain process. There are two kinds of demand approaches one, the independent demand. Second, derived demand.

The independent demand means the amount of a product demanded by the end use of the customer in the supply chain. Here the end use customer creates total demand for the product: example, B2B and B2C.

Derived demand means demand for the product is derived from other companies in the supply chain process. Moreover, they do not meet their demand from their customers. Examples are that companies order from other companies.

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