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Just-in-Time Inventory Management
This is an approach to dealing with materials inventories that emphasizes the elimination of all waste and the continual improvement of the production procedure. The procedure focuses on policies, procedures, and attitudes by managers and another employee designed to result in the efficient production of high-quality goods while continuously allowing the firm to maintain the minimum level of inventories.
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I ncentives These are rewards given when vendor/contractor exceeds your expectation. Incentives should increase contractor?s profit. Incentives can be categorised as:
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