Supply-chain strategy decisions determine _______ activities. 2. Managing inventory involves the identification of three relevant costs: _______, _______, and _______. 3. One strategy of _______ will match to a production decision of _______ or _______ production. This JIT purchasing strategy will minimize _______ of inventory and reduce or eliminate both _______ and _______ but may increase _______. 4. The goal of the management team is to minimize the overall combination of costs associated with inventory management. Any inventory management model requires careful analysis to identify the _______, the _______, and the _______. 5. The management team requires high-quality information in a database of the type found in _______ systems. These systems are demand-pull systems. Implementing a good demand-pull system requires a highly coordinated information flow that supports lean production. 6. Lean production (JIT) can eliminate inventory and therefore, _______ is appropriate. With no WIP or materials inventories, the need for sequential or _______ of costs of production through the inventories is no longer necessary. Instead _______ are identified such as materials purchase and completion of quality finished goods. Costs transfer at only these two trigger points from the Direct Materials to the Finished Goods inventory.

erms- backflush costing carrying costs economic order quantity enterprise resource planning (ERP) inventory management just-in-time (JIT) production just-in-time (JIT) purchasing lean production ordering costs purchasing costs reorder point shrinkage costs stockout costs synchronous tracking trigger points safety stock