Question: 1.A key difference between a fixed-order quantity inventory model, where demand is known and one where demand is uncertain, is in computing the reorder point.

1.A key difference between a fixed-order quantity inventory model, where demand is known and one where demand is uncertain, is in computing the reorder point. Please answer 'True' or 'False'.

2. In the fixed-time period model it is necessary to determine the inventory currently on hand to calculate the size of the order to place with a vendor. Please answer 'True' or 'False'.

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