Demand Management Might Be Defined as Focused Efforts to Estimate

question 10

True/False

Demand management might be defined as focused efforts to estimate and manage customers' demand, with the intention of using this information to shape operating decisions.

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Definitions:

Normal Time

The standard duration that a task or activity is expected to take under usual conditions.

Allowance Factor

A multiplier or percentage factor applied in calculations to account for expected deviations or uncertainties in estimates or operational capacities.

Predetermined Time Standards

Time values assigned to specific tasks based on analyses of their elements, used for planning and setting performance targets.