For this milestone, submit a draft of the inventory management and benchmarking sections of the final project $($Sections II and III, respectively$),$ including all the critical elements listed below. Refer to the Hampshire Company Case Study document, as this provides details on how to complete this milestone. All calculations for your quantitative analysis should be completed in the Hampshire Company Spreadsheet. You will provide a rough draft of your qualitative analysis in a Word document.

Specifically, the following critical elements must be addressed:

Inventory Management

Inventory management serves to minimize the cost to maintain inventory and maximize returns. In this section, the company$$s financial data will be reviewed in order to determine the optimal inventory management system.

Determine an optimal cost allocation method based on the relevant costs.

Describe how this method should be used by decision makers to fulfill their responsibilities. Support your response with examples.

What are the pros and cons of implementing the just$-$in$-$time $($JIT$)$ inventory system? Do the pros outweigh the cons for this company?

Explain how the just$-$in$-$time $($JIT$)$ inventory system can benefit this organization. Defend your response.

Identify the inventory management method you recommend, and explain why this method will benefit the company.