Question: Question 1 1 . 1 As the inventory manager for a company that manufactures specialized industrial equipment, you oversee a number of raw materials and

Question 1
1.1 As the inventory manager for a company that manufactures specialized industrial equipment, you oversee a number of raw materials and finished goods. Recently, senior management has raised concerns about the rising costs associated with inventory management. Your goal is to provide information that will help reduce overall inventory expenses without disrupting production or compromising customer satisfaction. Which three components of inventory management would you consider in reducing costs and justify your answer. (4)

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