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Explain the statement in detail using examples

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Since the early 1980s, better inventory management practices have resulted in falling average inventory levels in many companies. Much of this improvement has been driven by just-in-time (JIT) system. Many adopters of JIT approach claim high levels of costs savings. However, there are risks associated with adopting JIT.

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Question 1: Explain the above statement in detail using examples.

Reference no: EM132565194

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