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Much of the Planning function has to do with designing inventory policies, deciding on how much inventory to hold.  For many years, the driving force has been to reduce inventory.  The current baby formula crisis is not driven by inventory policies to a large degree but by other factors.

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https://www.forbes.com/sites/sap/2022/05/19/baby-formula-shortage-underscores-need-for-supply-chain-resilience/?sh=5d4e77c95995  

Based on the above article what do you believe are the biggest causes of this issue and what can be done both short term