As the inventory manager for Goliath Inc., a large merchandising company, it is your job to balance the costs carrying inventory (e.g., finance costs, storage costs, etc.) against the costs of not meeting customer demand (e.g., the cost of lost sales). If Goliath can rely on its suppliers to deliver inventory on very short notice and in ready-to-use forms, then very low inventory levels can be maintained. This approach to inventory management is called just-in-time (JIT) and is consistent with both minimizing inventory carrying costs and "out of stock" costs.

• What information would you need to maintain a just-in-time inventory policy?

Minimum 300 words and no copy-paste or Plagiarism, please.