Define the concept of replenishment of materials

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Question -

1) Define the concept of replenishment of materials?

2) Explain the following replenishment control levels.

a) Maximum level

b) Minimum level

c) Average stock level

d) Danger level

3) Discuss the concept of safety stock levels and underlying factors governing its efficiency.

4) To what extent does the replenishment strategy contributes to stores efficiency?

Reference no: EM133169476

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