List Three Problems Inventory Was Meant to Solve

question 35

Essay

List three problems inventory was meant to solve.How does the JIT producer handle these problems?
Problems with inventory:
1.Ordering costs
2.Uncertainty in demand
3.Lower cost of inventory

---

Definitions:

Differentiated

Describes a strategy or process by which a company distinguishes its products or services from those of its competitors, often through unique features, quality, or service.

Mass

A property of physical objects that quantifies the amount of matter they contain, often associated with weight.

Physically Free

The state of not being physically restricted or constrained by external forces or barriers.

Communicative

Able to convey or exchange information effectively through various means, including speaking, writing, or using other forms of communication.