What are the sources of uncertainties in demand and what can be done to cope with
these uncertainties?
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Demand forecasts are subject to error and uncertainty, which arise from three principal sources:
Data about past and present market,
Methods of forecasting, and,
Environmental change.
Demand forecasts are subject to error and uncertainty which from three principal source.
...
Coping with Uncertainties:
Conduct analysis with data based on uniform and standard definitions.
In identifying trends, coefficients, and relationships, ignore the abnormal and out-of-the-ordinary observations.
Environmental Change. The environment in which a business functions is characterized by numerous uncertainties.
Hope it was helpful !!!..
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