Question: a) Explain: (i) Inventory Management (4Marks) (ii) Dependent inventory demand (4Marks) (iii) Independent inventory demand (4Marks) b) Although lower inventories and a just-in-time approach receive

a) Explain: (i) Inventory Management (4Marks)

(ii) Dependent inventory demand (4Marks)

(iii) Independent inventory demand (4Marks)

b) Although lower inventories and a just-in-time approach receive considerable attention in the business media, some organizations prefer high levels of inventory. Explain why some organizations would want to hold a large inventory?

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