The JIT concept has three underlying elements: zero inventories; short, consistent lead times; and small, frequent replenishment quantities.
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Q3: Inventory plays a dual role in organizations.
Q4: In comparison with the basic EOQ approach,
Q5: Purchase economies and transportation economies are not
Q6: MRPII will not allow an organization to
Q7: EOQ can only be used for "push"
Q9: Batching economies or cycle stocks usually arise
Q10: The reorder point depends on the orders
Q11: ABC analysis uses a single criterion to
Q12: Inventory is an asset on the balance
Q13: A reason to hold inventory arises when
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