Concept explainers
Interpretation: During production, there are the possibilities of machine breakdown, labour strike, transport strike, natural calamities etc. these are the following conditions which are not predictable.
Concept Introduction: Uncertainty define the imperfect and unknown situation which will be arise in future. Suppose you started ABC Company for women accessories specially ornaments and you put all types of ornaments in your company to fulfil the demand of customer. But sometime customer demand may varies with time and company have not in that state to fulfil the demand. This condition is known as uncertainty. Uncertainty is the unpredictable situation which you cannot be determine what will be happen to next.
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Practical Operations Management