QUESTION $3(20$ Marks$)$

Just$-$in$-$Time $($JIT$)$ inventory management, a strategy aimed at reducing inventory costs by aligning

production schedules closely with demand, has gained popularity in global supply chains. Evaluate the

risks of adopting Just$-$in$-$Time $($JIT$)$ inventory management in a global supply chain.

QUESTION $4(20$ Marks$)$

In the South African automotive industry, inventory management plays a critical role in balancing demand

and supply, particularly in the face of volatile market conditions caused by fluctuating exchange rates,

labour strikes, and unpredictable global supply chains. Explain the role of inventory management in

balancing demand and supply in a volatile market. Use the automotive industry as an example.

QUESTION $5(20$ Marks$)$

In the context of the manufacturing company's initiative to optimise operations and minimise

environmental impact while maintaining profitability, discuss the key principles of Total Quality

Management $($TQM$)$ and how they can be applied to improve the company's production processes.