Explain How Inventory Can Act as a Buffer in the Production

question 91

Essay

Explain how inventory can act as a buffer in the production process.

---

Definitions:

Socialization

The lifelong process of inheriting and disseminating norms, customs, values, and ideologies, providing an individual with the skills necessary for participating within their own society.

The Millennials

A generational cohort following Generation X, typically defined as those born from the early 1980s to the mid-1990s to early 2000s, noted for their familiarity with media, digital technologies, and a progressive stance on social issues.

Generation X

This term refers to the generation of people born approximately between the early-to-mid 1960s and the early 1980s, recognized for their distinct cultural and economic experiences.

Baby Boomers

The demographic cohort born approximately between 1946 and 1964, noted for its significant size and impact on society and the economy.