Full Demand

Full demand is a market state wherein consumers are willing to buy all units of a specific product. This is the type of demand that most manufacturers desire. A full demand scenario exists when a manufacturer is aware of the demand for a particular product and addresses that demand appropriately conforming to necessary product quality […]

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Irregular Demand

Irregular demand is the fluctuating demand for a product. These are goods that don’t enjoy popularity throughout the year. The demand phase could be seasonal, monthly, weekly, daily or even hourly in nature. For example, umbrellas see maximum buyers only during monsoon and summer. Companies that cannot adapt to this seasonal demand or cannot cope […]

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Declining Demand

Declining demand refers to a good’s decreasing sales compared to its previous sales numbers. In other words, a product’s declining sales figures are indicative of its declining demand. This decline in demand could be due to the introduction of a new and more innovative competitor offering, or the product deteriorating in quality over time. The […]

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Cumulative Lead Time

Cumulative lead time is the time spent to complete a task from scratch. In a manufacturing environment, the cumulative lead time clock starts ticking after raw material purchase and ends at product shipment, with fabrication (cutting, molding, welding, finishing, etc.), assembling, testing, and packaging serving as interims. Within an industry setup, cumulative lead time is […]

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European Union (EU)

The European Union (EU), as the name indicates, is an assortment of 28 European nations having common social, security and economic policies. Headquartered in Brussels, Belgium, the EU is not one big country (unlike the United Kingdom) or continent. The member countries are independent but must cede to EU agreements. Set up in 1993, the […]

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