What is consumer demand? Consumer demand stems from demand theory, which is an economic principle that relates the relationship between the prices of items on the market and the demand for those items from consumers. As consumer demand for a certain product or service goes down, so does the price.
Supply and demand are what drives the entire supply chain industry, netting billions of dollars every year. When it’s your job to be on the supply side of things, you’ll notice that customer demand often includes seasonal stock. Seasonal stock can make up part of your supply chain, or you might specialize in the providing of seasonal goods. How can seasonal inventory be managed for year-round supply? Read more below to find out how managing seasonal inventory can be more effectively handled if you’re in the supply business.
Predicting market-based patterns in (freight) shipping for supply chains shoppingis a bit like forecasting the weather. We can’t anticipate every last detail accurately all the time because surprise fluctuations can always cause unexpected results. However, we have a pretty good handle on the flow of the supply and demand of the seasons, including when peak shipping season comes and goes.
No matter what size a company may be, it will need to rely on order processing and logistics in order to get their products to their customers. Warehouses are important for this aspect of the business. Companies that have a fulfillment center will ship goods directly to their customer without having to send the freight to retail stores or a drop-off location. This process is referred to as pick, pack, & ship.