Relationship between lot size and average inventory

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Reference no: EM132301607

1. What is overproduction, and what kind of waste(s) does it produce?

2. What is the (algebraic) relationship between lot size and average inventory?

3. Directions: Without plagiarizing develop a sales forecast for your product and/or service sales (for a gas station venture). Utilizing a qualitative or quantitative procedure, prepare a hypothetical sales forecast based upon your product selling at different price points. For example, let’s say you enter the market with a penetration strategy but after a period of time move to a price skimming strategy based upon demand.

Reference no: EM132301607

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