Expand on how the high level of uncertainty due to pandemic affected businesses in terms of:their decision-making process and ability,forecasting processes and accuracy,inventory management and control and Supply chains.

Introduction:

We often talk in this course about how uncertainty is the number one “enemy” of business. Uncertainty impairs our ability to make decisions; is the main source of forecast errors; affects the accuracy of a model; is one of the main reasons why we need to store inventory; puts strain on capacity whether it is manufacturing (production of critical items these days such as sanitizers, gloves, ventilators) or ability to serve customers (exponential lines at testing centers, ER rooms, supermarket retailers, banks, on hold call centers), and much more…

In addition, no matter how well we control our 4 M’s (manpower, machines, materials, and methods), there is a fifth M factor that can throw us off track unexpectedly and derail all our plans: Mother Nature! (whether it is a weather disaster such as hurricanes or a disease).

With the global spread of the pandemic due to Corona virus, we have witnessed firsthand all of the above disturbances and ravages to our economic and social life system. This crisis also made us realize the need to revisit our supply chains, specifically to be more agile in times of disasters to be able to adjust and respond swiftly and efficiently

With that in mind, you will be addressing the below

Post 1: Please address the following 3 points in your response
Expand on how the high level of uncertainty due to pandemic affected businesses in terms of:

1- their decision-making process and ability

2- forecasting processes and accuracy

3- inventory management and control and Supply chains

Expectations:

You need to address all 3 bullet points. (max 20 points)
The response each of the above three bullet points has to be at least 7 substantial sentences per bullet point (max 40 points)

You need to provide an example for each of the 3 bullet points (max 30 points)
You need to cite at least one source (Internet, articles, magazines, YouTube, or other) (one citation minimum total not per bullet point) (max 10 points)

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