1. Explain the major difference between demand uncertainty and implied demand uncertainty using the example

2. What would be the impact of increasing product variety on implied demand uncertainty in the case of a convenience store like 7-11?

3. Is it correct to say that the implied demand uncertainty will correlate with the characteristics of demand, particularly for high-markdown products? Why?

4. It is important to have strategic fit between the supply chain and its competitive strategy. Given that creating strategic fit requires designing a supply chain whose responsiveness aligns with the implied uncertainty, list the supply chains abilities with regard to responsiveness.

5. Assume a new vaccine has been developed for the COVID 19. Briefly describe its demand and supply characteristics at the beginning of the product life cycle.

6. A successful company needs to strike a balance between responsiveness and efficiency. Discuss how companies should prepare for globalization in terms of responsiveness.