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What are the advantages of holding inventory control systems?
Advantages of holding inventory control Systems:
a. Discounts for bulk buying for example, order higher volumes but few frequently
b. Reduction within transaction costs when buying higher volume but less often
c. Continuity of production for example ignore stock-outs and expensive hold ups
d. Flexibility to meet surges within customer demand
e. ignorance of price rises as an example, buy larger quantities while the price is lower
Identify and briefly describe the four steps of the feedback control model
Solve the following problem for the optimal number of clerks: There are approximately 300 customers shopping in Fackert Department Store in Mexico City between 9 a.m. and 5 p.m.
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