Question: Briefly describe the following techniques for managing inventory: ABC system, economic order quantity (EOQ) model, just-in-time (JIT) system, and computerized systems for resource controlMRP, MRP

Briefly describe the following techniques for managing inventory: ABC system, (EOQ) model, just-in-time (JIT) system, and computerized systems for resource control—MRP, MRP II, and ERP.

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The ABC system divides inventory into three categories of descending importance based on certain criteria established by the firm such as total dollar ... View full answer

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