WA Ore Company Mines Iron Ore for Production into Various

question 72

Essay

WA Ore Company mines iron ore for production into various metal products.During recent years,the company has had large fluctuations in its inventories of metal ingots.Much of the volatility of the inventory levels is due to the variability of demand by the company's largest customers.For large orders,the company has the technology to quickly shift production from one product to another.
Required:
Explain how the company can improve its inventory control system and give the advantages of whatever you recommend.
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Definitions:

Binding Precedent

A previous court decision that must be followed by lower courts within the same jurisdiction in cases involving similar facts or legal issues.

Persuasive

Having the ability to convince someone to do or believe something through reasoning or the use of temptation.

Binding Authority

Refers to legal sources that must be followed by a court, such as statutes or case law from higher courts in the same jurisdiction.

Statute

A written law formally enacted by legislative authority.