Briefly describe each of the costs associated with, Operation Management

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Briefly describe each of the costs associated with

1. What are the primary reasons for holding inventory?

2. What are the requirements for effective inventory management?

3. Briefly describe each of the costs associated with inventory.

4. What potential benefits and risks do RFID tags have for inventory management?

5. Why might it be inappropriate to use inventory turnover ratios to compare inventory performance of companies that are in different industries?

6. List the major assumptions of the EOQ model.

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