Question: Consider the two inventory models (basic fixed-order quantity and the economic-order quantity with re-order point) discussed in the small group discussion forum of this unit.
Consider the two inventory models (basic fixed-order quantity and the economic-order quantity with re-order point) discussed in the small group discussion forum of this unit. For each model, answer the following questions:
1.1 How would each model apply to Hali-Nature Cares operation (i.e. how would the model work, considering the nature of Hali-Nature Cares options)? (Max. 6 lines).
1.2 Which one of these models would be the best fit for Nature Cares operation?
Explain your answer.
(Max. 6 lines).
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