Tasting notes: Fine wine MBAs grow to meet demand | Financial Times
Companies must learn to survive and adapt in a competitive world with rapidly changing business conditions. Small businesses face additional pressures. meet a need/demand/requirement/condition etc meaning, definition, what is meet a need/demand/requirement/condition etc: to do something that someone. Consumer demand is a driving force for sales at retail businesses. Failure to have adequate inventory to meet the demand of consumers is a major business.
Inventory Lower sales usually means higher inventory. For example, if a bakery does not price its products competitively, it might end up with unsold bread and pastry on its shelves.
A computer store may end up with older desktops in its warehouse if consumers prefer laptops and mobile computing devices. Higher inventory usually means higher costs, as spoilage and slower-moving items take up valuable warehouse space.
Businesses may then have to offer deep discounts to dispose of inventory, and even write off some unsold inventory.
A company could improve inventory management by tracking its inventory levels and timing its orders to match peak selling periods, such as weekends and the holiday season. Profits Lower sales usually mean lower gross profits, which could mean lower net income, cash flow and retained earnings.
The company may have trouble meeting its debt obligations, which might lead to bankruptcy. Reducing operating expenses may offset some of the drop in revenue. Although a company may have stringent cost controls in place, there might be room for additional savings, such as replacing business trips with web-conferencing and hiring part-time workers instead of full-time workers. However, the best way to increase net profit is to maintain customer demand.
satisfy or meet the demand?
When consumers realize you are out of stock, they have to seek out other providers or brands to meet their needs. Not only do you lose sales, but you miss out on profit opportunities. Lost Customers In the long run, a greater concern in not meeting consumer demand is losing customers altogether. For a buyer, finding out a product he wants is unavailable is frustrating.
Some customers may give your business or product more than one opportunity to make good, but eventually, they want options that are consistently available.
satisfy or meet the demand? | WordReference Forums
Retailers must monitor customer demand and stay diligent with inventory management and buying processes to ensure they have products on hand to meet demand. Negative Publicity When you have dissatisfied customers in the market, you also have negative word-of-mouth advertising floating around.
You may never see some consumers simply because a friend warned "Don't go to Company X because it always runs out of Product Y. High Costs While the service issues carry greater weight, failure to meet consumer demand also has other economic effects.
Generally, when you buy products from vendors, you get discounts for higher-volume purchases.