Procurement and production management in the automobile industry is handled very different companies on through different mechanisms. The Japanese companies and Korean companies make use efficient just in time inventory management through which the inventories are provided to the production process at the specific stages where it is required.
This minimizes wastage of time and costs. The American companies as well as the European manufactures of the automobiles tend to keep inventories of the products with themselves at large warehouses, form whether the inventory is provided to the assembly line. The inventory is also stored near the assembly line at the specific stages where it is forecasted that additional inventory might be needed.
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