Inventory planning and control Question:
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What is a two-bin system?

Answer:

1. A system in which everything is split between two storage bins
2. A system in which two full bins of an item are always held in stock
3. A system in which suppliers deliver two bins at a time
4. A system in which orders are placed when only one complete bin of stock is remaining

A system in which orders are placed when only one complete bin of stock is remaining

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The EOQ formula has been criticized in a number of areas. Which of the following is not an area of common criticism?Under the ABC system of inventory priorities a Class A item is?