(Answered) : Define inventory position. Why is inventory position used to trigger orders in a fixed quantity system rather than the actual st

Define inventory position. Why is inventory position used to trigger orders in a fixed quantity system rather than the actual stock level?

Define risk pooling and the advantages and disadvantages of centralized warehousing. What assumption does risk pooling make?

Expert Answer

Inventory position is the presence of items at particular points at certain time . This means planning of what items are required for which point of production and placing them there. By this system we can only get what number is required and what needs to be ordered but we cannot estimate how much stock is left because items

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