So far we have talked about inventory or WIP ( work in progress) very much in the context of manufacturing industries. How about service industries? Take banks, hospitals or any other service as an example. Do they have such issues or problems?
Describe your thoughts on the topic above.
Include references where necessary.
About the topic:
Inventory
How much finished product do you need to keep on hand? More inventory, greater cost. Less inventory and you may not meet your customers’ needs and end up losing business.
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