1. Define inventory planning and control and describe and discuss its two broad categories. 

2. Describe the four main types of inventory.

3. Describe the various types of inventory classifications. 

4. Define the various components of inventory and holding cost. 

5. Define how the Economic Order Quantity Model works. 

6. Describe the three types of EOQ models. 

7. Compare and contrast the fixed order quantity system and the fixed order interval system. 

8. Describe the ABC analysis system. 

9. Define inventory turnover and discuss its importance to managing cost of goods sold. 

10. What are some methods by which inventory accuracy and control can be improved? 

11. Define vendor managed inventory. What are some of its pros and cons?

Answer rating: 100% (QA)

Lets break down each question 1 Inventory Planning and Control Definition Inventory planning and control involve managing the flow of goods into and out of an organizations inventory to ensure optimal ... View the full answer