Five functions of inventory

Reference no: EM13956315

Please don't use plagiarized work, and also please keep references to a minimum. Each answer should be 2-3 sentences***

1. What are the five functions of inventory?

2. Explain the concept of lead time.

3. Describe three ways to process unfilled orders.

4. Describe the importance of establishing specifications for a material or product.

5. As it would apply to the Saint Leo core value of responsible stewardship, describe some of the legal and ethical concerns of the typical purchasing manager when dealing with vendors and suppliers.

Reference no: EM13956315

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