a) Briefly describe andlor dene Justln-Time (JIT) and outline several of the main features associated with JIT. (3 marks - Suggested time 9 minutes) b) Traditionally inventory has been held: (i) To balance ordering [purchasing or setup costs and carrying costs (ii) To assist in controlling the cost of purchases (iii) To avoid production shutdowns because of unreliable production processes, defective materials & parts, unavailability of raw materials etc. (iv) To satisfy customer demand. Briefly discuss how the JIT approach responds to the traditional reasons for holding inventory. (2 marks - Suggested time 6 minutes)