During network design, managers need a methodology that allows them to estimate the certainty in their forecast of demand and price and then incorporate this certainty into the dec... During network design, managers need a methodology that allows them to estimate the certainty in their forecast of demand and price and then incorporate this certainty into the decision-making process. True or False?
Understand the Problem
The question is presenting a statement regarding network design and asking whether it is true or false. It highlights the importance of estimating demand and price certainty in the decision-making process for managers.
Answer
True.
The final answer is True.
Answer for screen readers
The final answer is True.
More Information
During network design, it's crucial for managers to estimate the certainty in forecasts of demand and price. This helps incorporate confidence levels into decision-making, enhancing strategic planning and reducing risks.
Tips
A common mistake is neglecting the uncertainty element in forecasts, which can lead to ineffective planning.
Sources
- Designing Global Supply Chain Networks: Key Decision-Making - cliffsnotes.com
- Assignment 6 (docx) - Course Sidekick - coursesidekick.com
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