Evaluate the logarithm by using properties of logarithms and the following facts. Round your answer two decimal places.
Definitions:
Inventory Control
The regulation of inventory levels within a business to manage supply, minimize costs, and prevent shortages or surpluses.
Just-In-Time (JIT) System
A supply chain management strategy that reduces inventory costs by delivering raw materials and components just as they are needed in the production process.
Sudden Increase In Demand
A rapid and unexpected rise in the desire or need for a specific product or service, which can impact market dynamics.
Long-Term Relationships
Enduring associations between companies and their stakeholders, such as customers or suppliers, typically characterized by trust, loyalty, and mutual benefit over time.
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