Question: Question 2: (10 Marks) Read the statement below and answer the questions that follow: Balancing supply and demand is concerned with the time between manufacturing
Question 2: (10 Marks) Read the statement below and answer the questions that follow: Balancing supply and demand is concerned with the time between manufacturing (supply) and consumption, the different stages within the supply chain, and the variation in consumer demand. There are four (4) methods that can be used to manage supply and demand imbalances, broken down into two categories, namely: (1) internal balancing methods and (2) external balancing methods. Meyer, A. Schutte, P. Wheeler, B. Kufandarerwa, R. Makiwa, P. Cawthra, T. Ruziwa, R. RourkeMcGill. Nokhepheyi, Y. Zandberg, E. 2020. Principles of Stock Control and Inventory Management. First Edition. Westlake Business Park, Cape Town: Edge Learning Media. Required: Using your own words, you are required to distinguish between the purpose of internal and external balancing methods in managing supply and demand imbalances.
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