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Stock control
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Buffer stocks
buffer stock is emergency stock held in case of a sudden shortage. Some businesses hold buffer stock to ensure they are capable of meeting a sudden surge in demand.
Just-in-time (JIT)
JIT is an important part of lean production and the Kaizen approach. This means that money is not wasted on buffer stock. It was developed by the Japanese shipbuilding industry in the 1950's and 1960's when it was recognized a great deal of money was tied up in stocks.
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- AS level Business Studies Note on Stock control , created by Reuben Adams on 16/05/2017.
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- Reuben Adams
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