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Problem 1:
(a) Define the terms ‘ inventory' and ‘inventory control'.
(b) State the classification of supplies for inventory purposes in your organisation.
(c) List the aims of inventory management.
(d) Explain clearly acquisition costs, holding costs and costs of stockouts.
Problem 2:
Explain three types of 'Benchmarking' identified by Harrison and describe how organisations might benefit from them.
difference between string diagram and travel chart
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Aerial Products maintains a safety stock of 5 airframes in any given week. The owner likes to have the supply as a just in case buffer. Given the weekly demand in the data table i
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The Fresh Produce Supply Chain Fresh produce was grown in many locations worldwide. However, certain areas proved more economically viable than others for large-scale producti
If the company does not change its current distribution strategy, what will its distribution cost be for the following quarter?
The Fabrication & Baking Industries Ltd (The FBI) The FBI is a specialty manufacturer of fabricated, baked enamel components for the mining industry, located in Newcastle. Large
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