Customers arrive at a video rental desk at the rate of 14 per minute(Poisson).Each server can handle 6.55 customers per minute(Poisson). If there are 3 servers, determine the average time it takes to rent a video tape. a. 0.09 minutes b. 1.266 minutes c. 0.146 minutes d. 0.243 minutes

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.