Question: Q-2. (i) Define what is Inventory Management. Why inventory management is important? (ii) What are four functions of inventory management? (iii) What are four Types

Q-2. (i) Define what is Inventory Management. Why inventory management is important? (ii) What are four functions of inventory management? (iii) What are four Types of Inventory? (b). (i) What is ABC Analysis? (ii) What is cycle counting? (iii) Why is Control of Service Inventories critical? (C). A certain type of computer costs $1,100, and the annual holding cost is 20%. Annual demand is 11,100 units, and the order cost is $170 per order. What is the approximate economic order quantity

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