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What are the common costs of inventory

SCM Essay Problem

Watch the YouTube video: "Inventory Management - An Introduction with Mal Walker"

a) What are the common costs of inventory?
b) Why do we need safety stocks and how do we plan and determine them?
c) Identify and explain inventory reduction strategies.

The response should include a reference list. Using double-space, Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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