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QUESTION 3 Explain what is meant by purchasing lead time. (5 marks) Explain what is meant by cycle stock and the implications of long lead

QUESTION 3

Explain what is meant by purchasing lead time. (5 marks)
Explain what is meant by cycle stock and the implications of long lead times, on inventory. (5 marks)
Discuss the implications of in-consistent lead times. (5 marks)
Discuss how technology can help in managing lead-times and in expediting open orders. (5 marks)

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