Question: 1. What are independent demand items? What two basic ordering systems are used for these items? What are dependent demand items? What system should be

1. What are independent demand items? What two basic ordering systems are used for these items? What are dependent demand items? What system should be used to order those items? 2. What are four characteristics of the order point system? 3. What are the four factors that can influence the amount of safety stock that should be carried? How does the length of the lead time affect the safety stock carried? 4. What is the standard deviation of demand during the lead time? If the standard deviation for the lead time interval is 100 units, what percentage of the time would the actual demand be equal to +/- 100 units? +/- 200 units? +/- 300 units? 5. Why does the service level depend upon the number of orders per year? 6. What are the differences between the order point system and the periodic review system regarding when orders are placed and the quantity ordered at any one time

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