Discuss Just-In-Time Inventory Control.Outline Its Strengths and Weaknesses

question 43

Essay

Discuss just-in-time inventory control.Outline its strengths and weaknesses.

Identify the purposes and functionalities of different application software.

Recognize the various sources and types of apps available for different platforms.

Know the basic principles of app development and the tools used for different platforms.

Understand the concepts related to big data and its processing.

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Definitions:

Binding Price Ceilings

Regulatory limits on the price of goods and services that are set below the market equilibrium price, causing shortages.

Consumers

People or organizations that use economic goods and services for personal, household, or organizational purposes.

Price Ceilings

A legal maximum on the price at which a good can be sold, often set by government.

Sellers

Sellers are individuals or entities that offer goods or services in exchange for payment.