Question: Define the term inventory. Give a few examples. (2 marks) Explain the meaning of Inventory Control (3 marks) Describe the three main objectives of Inventory

Define the term inventory. Give a few examples. (2 marks)

Explain the meaning of Inventory Control (3 marks)

Describe the three main objectives of Inventory Control (9 marks)

Explain how an Inventory Control Manager would achieve each of these objectives. Illustrate your answer with examples. (15 marks)

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