A lot of people are aware of the bullwhip effect and I have even done a previous post on the subject.
I am doing a new post as it has become even more apparent that predicting demand is extremely hard. It would seem that once there is a shortage then everyone starts to think that they can solve the problem and make lots of money. It can be masks for a pandemic or diplomas for profession.
There are now warehouses full of masks that need to be deeply discounted because the current supply is way higher than the demand.
There are people who are now taking courses for a job that might not exist.
When trying to determine what is needed keep in mind that if you can see the demand than so can others. The trick is to try and determine the demand 5 years from now. After the hoopla is over.
The other trick would be to learn as much as you can about the bullwhip effect so that you can react properly.
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