a$)$ Define the term "Inventory Control" and list different areas in which inventory control can be applied in an industrial setting.

b$)$ A company whose monthly supply is $40,000$ units to its customers, has the monthly holding and setup costs of #$100,000$ and #$500,000$ respectively. If shortage is not allowed, determine the: i$)$ EOQ

ii$)$ Optimum Scheduling period $(t)$

c$)$ If shortage of #$40,000$ is allowed, determine the:

i$)$ EOQ

ii$)$ Optimum Stock level

iii$)$ Optimum Shortage level

iv$)$ Total Cycle

a$)$ What is Project Appraisal?

b$)$ Briefly discuss on its importance$/$relevance$.$

c$)$ Discuss the Viability Concept and its main Indicators.