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Q. Explain about the managing inventory.
Managing inventory (stock):
Retailers buy stock or inventory and sell that to customers; that manufacturers buy raw material and elements, manufacturing or assembling goods and after that selling such finished goods downstream for example, later into the supply chain, in the direction of the ultimate customer or consumer.
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_____ is the objective under JIT and time-based competition. WIP reduction Material velocity Lead-time reduction Decreasing material wait time
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