Uncertainty refers to the inability of individuals and
organizations to correctly predict future events and there
are many sources of uncertainty including technology
advances, regulatory reforms, changes in tastes, and market
structure, to name a few. More formally, environmental
uncertainty refers to unpredictable nature of future
events while demand and supply uncertainty relates to
demand-side and supply-side conditions, respectively.
Under the conditions of demand uncertainty, organizations
seek load-sharing and flexibility