HI

Please help me with the below for inventory management :

Costco also employs a just$-$in$-$time inventory management system, which includes sharing data directly with many of its largest suppliers. Companies like Kimberly$-$Clark calculate re$-$order points in real time and send new inventory, as needed, to replenish store shelves. Costco also works to redesign product packaging to squeeze more bulky goods onto trucks and shelves, reducing the number of orders Costco needs to place with suppliers.

Occasionally, the company leverages its $75$ million square feet of warehouse space to reduce purchasing costs. For example, when Procter & Gamble recently announced a $6\%$ price increase for its paper goods, Costco bought $258$ truckloads of paper towels at the old rate and stored them using available capacity in its distribution centers and warehouses.

These inventory management techniques have allowed Costco to succeed in tough times while others have failed. Costco turns its inventory nearly $12$ times a year, far more often than other retailers. With many suppliers agreeing to be paid $30$ days after delivery, Costco often sells many of its goods before it even has to pay for them!

Inventory management is important because materials costs often account for more than $40\%$ of total costs of manufacturing companies and more than $70\%$ of total costs in merchandising companies.

Question $1$

$1.$ Analyse the role of just$-$in$-$time in inventory replenishment for Costco,please provide your understanding of the concept before you provide at least $2$ application points to Costco. $10$ marks

$2.$Explain any three benefits of an inventory management system in relation to Costco given that they receive payment from customers before they even have to pay suppliers.please provide your understanding of the concept before you provide at least three application points to Costco. $9$ marks

$3.$do you think it is a good idea to sell goods to consumers and receive payment before they pay suppliers? Justify your stance by discussing atleast $2$ key points. $6$ marks