Question: Describe the differences between Periodic inventory systems and cycle counting system. What are the advantages and disadvantages of each? Define the Pareto Principle and explain

  1. Describe the differences between Periodic inventory systems and cycle counting system. What are the advantages and disadvantages of each?

  1. Define the Pareto Principle and explain how it applies to inventory control.

3. What is the safety stock? When is it advantageous to hold, and when does it become a detriment?

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