The primary difference between demand management and demand forecasting is:
A)Forecasting is only possible when quantitative data are available.
B)Demand management is proactive,while forecasting attempts to predict.
C)A firm cannot execute both approaches simultaneously.
D)One approach deals with uncertainty,while the other deals with known demand.

Question

Quizplus · Accepted Answer

Demand management involves actively influencing demand through various strategies such as marketing, pricing, and promotions, while demand forecasting involves analyzing past data and trends to predict future demand. Demand management is proactive, while forecasting is reactive.

The Primary Difference Between Demand Management and Demand Forecasting Is