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Diffrent Types of Demand Pattern, Dependent and Independent Demands , Diffrent ways of Forecasting
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Diffrent Types of Demand Pattern, Dependent and Independent Demands , Diffrent ways of Forecasting
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Specifying Other
the required information
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the quantity
the delivery responsiveness
requirements
ITC M2:U4:4.2-1
, Action Point 4.2-1
The importance of good demand information
“Component Z: quantity: 1200 units at $10.00 each
= $ 12,000 total”
What other information do you need?
ITC M2:U4:4.2-2
, Dependent demand
depends on demand
for something else
(e.g., steering wheels
for motor cars)
Independent
demand relates to
standalone Occasional
requirements (e.g., demand
capital purchases) Continuous
demand
ITC M2:U4:4.2-3
, Characteristics of Demand
Trend: constant, increasing or reducing. But may
change over the long-term.
Cyclical fluctuations: Demand tends to increase or
decrease over extended periods of time due to
business cycles, product life-cycles, etc.
Seasonality: influenced by weather, regular events
such as holidays, festivals, or the end or beginning
of financial years, etc.
Random variations: when demand varies from the
underlying pattern due to unforeseen reasons.
ITC M2:U4:4.2-3a
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