Managing the Supply and Demand of Services (530 words)

Question

Several strategies exist for managing the supply and demand of services. List the strategies for managing each and give an example of each strategy.

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In case of service organizations, it is not possible to store services as inventory as the output is not tangible. As such, there are several strategies used to match supply and demand of services to ensure that there are minimal idle capacity and minimized waiting times.
In order to manage supplies, organizations can focus on cross training employees. The case of a restaurant can be considered...

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