Question1) Answer all the questions:
(i) Mention four advantages of Inventory.
(ii) Describe ‘EOQ’ in inventory management.
(iii) What is material identification for stores?
(iv) What is ‘JIT’ inventory management?
(v) List four inventory control techniques.
Question2) Explain application of MRP in inventory management.
Question3) Briefly explain the methods of Inventory Storage in stores.
Question4) Write a brief note on Applications of Computers in Inventory Management.
Question5) Answer all the questions:
(i) What do you mean by HML analysis in Inventory Management?
(ii) What is Perpetual Inventory System?
(iii) What is meant by Lead Time Analysis?
(iv) Describe what is meant by ERP in Inventory Management?
(v) Describe transportation cost in inventory management?
Question6) Describe the process of inventory control under EOR model, explaining minimum, maximum and reorder levels.
Question7) Briefly explain static and dynamic control models of inventory management.
Question8) Briefly explain ‘Transportation strategy’ and cost reduction methods in inventory management.