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Explain the specification of lead time.
Lead Time has:
(i) Time to place the order and to process the enquiries.
(ii) Time to send the order to the supplier.
(iii) Time for the supplier to complete the order.
(iv) Transportation time to reach the purchaser.
Lead time is to be occupied into consideration for setting the minimum, maximum and the order quantities for all time.
By whom Dual factor theory was propose? Dual factor theory has been proposed by Herzberg.
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What do your contingency plan in case your plan of action doesn't work?
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