The basic Economic Order Quantity (EOQ) is one of the oldest and the most often used methods of ordering and controlling inventory. In light of the above article, appraise the EOQ method in operations management. QUESTION 2 (20 Marks) Inventory is one of the most expensive asset of any organisation (Heizer \& Render, 2014). Although organisations in the manufacturing sector usually carry more inventory than service firms, effective inventory management is nonetheless important to both manufacturers and service organisations. Evaluate the nature and importance of holding inventory. Answer ANY THREE (3) questions in this section. QUESTION 3 [20 Marks] The table below shows the sales of bread for Mr Ndumiso Dana's store in Limpopo over a 12-month period. The demand planner prepared a forecast using a combination of exponential smoothing and their collective judgement for a 4-month period. Mr Ndumiso Dana is an entrepreneur and has numerous businesses. It has come to his attention that you are studying forecasting and requested your help for one of his businesses. Using the data prepared in the table answer the questions that follow