Asked by Praneeth Ganedi on Jul 21, 2024
Verified
One reason complex models have not found widespread use and application is that
A) managers are lazy.
B) managers cannot understand how they work.
C) the models are inaccurate.
D) good models are time-consuming and managers must often react swiftly to dynamic demand.
E) the statement is false; complex models are widely used and accepted.
Complex Models
Analytical or simulation models that incorporate a multitude of variables and relationships to represent or predict intricate systems or phenomena.
Dynamic Demand
Refers to the fluctuations in customer demand over a period of time, influenced by various factors such as seasonal trends and market conditions.
- Understand key principles and strategies of aggregate planning.
Verified Answer
MJ
Mary Jean BunalJul 25, 2024
Final Answer :
D
Explanation :
Good complex models often require a significant amount of time to build and implement, and managers may need to make quick decisions in response to changing market conditions. As a result, these models may not be practical for all situations.
Learning Objectives
- Understand key principles and strategies of aggregate planning.
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