Question: SCM - Inventory Management What does inventory management mean? Discuss familiar examples of inventory management in your every day life. What is the difference between

SCM - Inventory Management

  1. What does inventory management mean?
  2. Discuss familiar examples of inventory management in your every day life.
  3. What is the difference between continuous and period inventory systems? Which one is better?
  4. What is a inventory model? Name some of the inventory models we discusses. What are the benefits and shortcomings of these models? Do you think it is helpful/interesting to study them?
  5. How quantity discount EOQ model is different from EOQ model?
  6. What is ROP? What is safety stock?

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