Question 1 of 30
A manufacturing company using Oracle Maintenance Cloud has noticed an increase in equipment breakdowns, leading to a surge in demand for spare parts. The inventory manager is tasked with optimizing the inventory levels to ensure that critical parts are available without overstocking. Which strategy should the inventory manager prioritize to effectively balance availability and cost?
Implement a just-in-time inventory system to reduce holding costs while ensuring timely availability of parts.
Increase the safety stock levels for all spare parts to prevent stockouts during peak demand periods.
Conduct a comprehensive review of all inventory items and eliminate those with low turnover rates to streamline inventory.
Establish a fixed reorder point for all items regardless of their usage patterns to simplify inventory management.

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