SCM DQ6

Please view the following video: 

http://www.youtube.com/watch?v=qkZQxXJuqKo

· What are the common costs of inventory?

· Why do we need safety stocks and how do we plan and determine them?

· Identify and explain inventory reduction strategies.

Please ensure to write a post which is a minimum of 500 words, please ensure to provide at least two peer reviewed journal articles.