Complete the sentences below.

$1)$ Supply$-$chain strategy decisions determine

$$

activities.

$2)$ Managing inventory involves the identification of three relevant$$ costs:

$$

ordering costs, carrying costs, and shrinkage costs.

ordering costs, carrying costs, and stockout costs.

ordering costs, purchasing costs, and shrinkage costs.

purchasing costs, ordering costs, and carrying costs.

purchasing costs, ordering costs, and stockout costs.

$3)$ One strategy of

$$

enterprise resource planning $($ERP$)$

inventory management

just$-$in$-$time $($JIT$)$ production

just$-$in$-$time $($JIT$)$ purchasing

lean production

will match to a production decision of

$$

carrying costs or stockout costs.

just$-$in$-$time $($JIT$)$ production or lean production.

stockout costs or shrinkage costs.

just$-$in$-$time $($JIT$)$ production or stockout costs.

This JIT purchasing strategy will minimize

$$

carrying costs

ordering costs

purchasing costs

shrinkage costs

stockout costs

of inventory and reduce or eliminate both

$$

ordering costs and carrying costs

purchasing costs and carrying costs

shrinkage costs and carrying costs

stockout costs and carrying costs

but may increase

$$

carrying costs.

ordering costs.

purchasing costs.

shrinkage costs.

stockout costs.

$4)$ The goal of the management team is to minimize the overall combination of costs associated with inventory management. Any inventory management model requires careful analysis to identify the

$$

carrying costs, ordering costs, and purchasing costs.

economic order quantity, ordering costs, and purchasing costs.

ordering costs, the economic order quantity, and trigger points.

purchasing costs, reorder point, and the safety stock.

reorder point, the economic order quantity, and the trigger points.

safety stock, stockout costs, and trigger points.

shrinkage costs, carrying costs, and ordering costs.

stockout costs, reorder point, and safety stock.

trigger points, stockout costs, and the economic order quantity.

$5)$ The mgganagement team requires$$ high$-$quality information in a database of the type found in

$$

economic order quantity

enterprise resource planning $($ERP$)$

inventory management

just$-$in$-$time $($JIT$)$ production

just$-$in$-$time $($JIT$)$ purchasing

lean production

systems. These systems are$$ demand$-$pull systems. Implementing a good$$ demand$-$pull system requires a highly coordinated information flow that supports lean production.