1- How production EOQ is different from Simple EOQ model? also, how do we know ifa problem...
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1- How production EOQ is different from Simple EOQ model? also, how do we know ifa problem in the quiz is a production EOQ model and not a EOQ model?
2-Can you give an every day example of production EOQ?
3- How the periodic inventory system is different from continuous inventory system?
4- Which should cost less: a periodic inventory system or a continuous inventory system (liek EOQ)? Why? Can you demonstrate using an example?
5-Discuss the characteristics of a newsvendor model and provide familiar examplesof newsvendor model.
6- Whenare you ordering more than average demand and when are you ordering less than average demand in a newsvendor model? (discuss it in terms of related costs)
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