1. What is project management? Why can it be important to Operations Management? Presuming you have arranged the tasks to be performed what's the critical path and why is it called the critical path? Why not crash all tasks?

2. Describe reorder point and the aspect of safety stock. Describe the impact of marketing demanding an increase in service level (considering the statistical approach used to determine safety stock, given demand variation) -- what will happen to the reorder point and safety stock and why? What does EOQ do for a business?

3. Describe the purpose of MRP and the how the MRP process works? (include BOM, gross/net requirements, lot size, independent and dependent demand, projected demand, projected inventory, planned order receipt, and planned order release in your explanation). What can be considered a weakness of MRP?

1-2 paragraphs for each separate.