Product Life Cycles Are Becoming Longer for Many Products Due

question 34

True/False

 Product life cycles are becoming longer for many products due to new technology,rapidly changing preferences of buyers and intense competition. 

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Definitions:

Product Availability

The extent to which a product can be purchased by consumers, influenced by inventory levels and supply chain efficiency.

Forecast Error

The gap between real results and what was forecasted by predictive models.

Expected Overstock

The anticipated surplus inventory that exceeds the demand, often leading to markdowns, clearance sales, or write-offs.

Expected Understock

The anticipated shortage of inventory, where demand exceeds the available supply within a certain period.