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Question:
Many companies build up their inventory levels to: Accommodate for uncertainties in demand; Take advantage of economies of scale; Accommodate for unreliable suppliers; Accommodate for quality issues; Accommodate for production and scheduling errors. Yet, JIT and Lean Manufacturing philosophies state that inventory is considered waste and should be eliminated as much as possible.
Please make a post which makes the case for building up inventory levels. Please make a second post which makes the case for using JIT & Lean Manufacturing to eliminate as much inventory as possible.
Please make a third post in which you choose a company (or industry) and discuss which of these inventory methodologies you would follow and why. List at least 2 references sources supporting paper.
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