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What are implications of the jit approach for supply chain

Question 1: Distinguish between possession, form, time, and place utility.

Question 2: Why do contemporary supply chains need to be fast and agile?

Question 3: Discuss some of the ways that inventory can be reduced in the supply chain.

Question 4: Distinguish between a fixed order quantity and fixed order interval system. Which one generally requires more safety stock? Why?

Question 5: What are implications of the JIT approach for supply chain management?

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