Stored inventory represents great amount of capital

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In many cases, stored inventory represents a great amount of capital. Obviously firms would prefer to convert inventory to cash as rapidly as possible. Study pages 245–255 of your textbook (van Weele 2014) and answers the following questions:

What is the principle of JIT management?

What is the difference in supplier relationships between Japanese and European manufacturers?

What is EOQ and how is it determined?

What are the advantages and disadvantages of the JIT concept for the supplier?

What are the criticisms of the pyramid-shaped supply structure which exists in Japan?

What impact does JIT have on supplier selection?

Reference no: EM132174215

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