e. Identify the job process types above that are suited to high-volume standardized products that are produced at low cost with limited flexibility. Which of them are suited to low-to-moderate-volume products that are customized? (4Marks) 4. a) Explain: (i) Inventory Management (4Marks) (ii) Dependent inventory demand (4Marks) (iii) Independent inventory demand (4Marks) b) Although lower inventories and a just-in-time approach receive considerable attention in the business media, some organizations prefer high levels of inventory. Explain why some organisations would want to hold a large inventory? (8Marks) 5. a) Explain: (i) Queuing Theory (2Marks) (ii) The characteristics of waiting lines (8Marks) b) A customer support call center grades their employees on how quickly they resolve customer problems (measured in average call time) and how many times the customer request escalates to the point that a supervisor must be summoned to resolve the dispute. What might an employee do to perform well on these metrics without actually providing good customer service? What could management do to prevent such behaviors? (10Marks)