Reference no: EM131554822

Question: Many companies build up their inventory levels to:

1) Accommodate for uncertainties in demand;

2) Take advantage of economies of scale;

3) Accommodate for unreliable suppliers;

4) Accommodate for quality issues;

5) Accommodate for production and scheduling errors.

Yet, JIT and Lean Manufacturing philosophies state that inventory is considered waste and should be eliminated as much as possible.

1) Please make a post which makes the case for building up inventory levels.

2) Please make a second post which makes the case for using JIT & Lean Manufacturing to eliminate as much inventory as possible.

3) Please make a third post in which you choose a company (or industry) and discuss which of these inventory methodologies you would follow and why.