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

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lease view the following video:

http://www.youtube.com/watch?v=qkZQxXJuqKo

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

Please ensure to write a post which is a minimum of 500 words, please ensure to provide at least two peer reviewed journal articles.