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Critique the following two assumptions of the basic economic order quantity model from a fashion retailer's perspective. (i) Price of product is constant and is
Critique the following two assumptions of the basic economic order quantity model from a fashion retailer's perspective.
(i) Price of product is constant and is independent of order quantity or time (e.g., purchase price).
(ii) There is one item of inventory or no interaction between multiple items of inventory.
Specify two situations that keeping a high level of inventory as safety stock is highly required, with explanation.
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