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Define the inventory procurement cost and inventory carrying cost.
Inventory Procurement Cost and Inventory Carrying Cost:
Inventory is a detailed list of such movable items that are essential to manufacture a product and to keep the equipment and machinery into good working order. Procurement costs reduce as the order quantity rises. Carrying costs are mostly directly proportional to the order size or order quantity or lot size.
What du you understand by line balancing
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Before the preliminary design has progressed further it should be subjected to a critical review by all those who are connected with the product such as quality engineers
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