problem1. Discuss two potential benefits and two possible drawbacks of a Just In Time (JIT) supply system.
problem2. List two known versions of Just In Time (JIT) Supply State briefly what each version means.
problem3. In which circumstance Forecasting Technique may be used as a method of managing inventory?
problem4. Forecasting of future demand for inventory must be worked out as accurately as possible. Describe three impacts of inaccurate forecasting. Illustrate your answers.
problem5. Classifying Inventory as A-class items, B-class items and C-class items helps Inventory Managers in devising appropriate control strategies for each class of items.
• Suggest one control strategy for each of the three classes of ABC Classification.
• State two limits of ABC Analysis as an Inventory Management Tool.