Define each of the following terms: a. Baumol model b.

Define each of the following terms:
a. Baumol model
b. Total carrying cost; total ordering cost; total inventory costs
c. Economic ordering quantity (EOQ); EOQ model; EOQ range
d. Reorder point; safety stock
e. Red-line method; two-bin method; computerized inventory control system
f. Just-in-time system; outsourcing