What Is the Bullwhip Effect?
The bullwhip effect is a phenomenon in supply chain management where small fluctuations in demand at the retail level cause progressively larger fluctuations in demand at the wholesale, distributor, manufacturer, and raw material supplier levels. This effect resembles the motion of a bullwhip being cracked, where a small movement at the handle results in a […]
What is a Purchase Requisition?
In any business, managing purchases effectively is crucial to maintaining control over expenses and ensuring smooth operations. A key part of this process is the purchase requisition, a formal request for goods or services that initiates the procurement process. Understanding a purchase requisition, why it’s important, and how it works can significantly improve your organization’s […]
