Mail0078 - 6 In the context of inventory management explain...

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Unformatted text preview: 6. In the context of inventory management, explain what the Reorder Point 7L System and, Periodic Review System of inventory control mean? Include a simple. diagram to illustrate the principle and operation of each system. 5 marks if. What is aggregate planning and explain why aggregate planning IS necessary in operations management? 5 marks x8. Explain with examples, the difference between ‘5' it a. Production and Productivity b. Efficiency and Effectiveness 7" 9. Explain role of IT. in decision-making process / “D 10. A retailer expects to sell about 200 unitsmf a product per year. The storage space taken up in his premises by one unit of this product costs $20 , ” per year. If the cost associated with ordering is $35 per order what is the economic order quantity given that interest rates are expected to remain 0 . . close to 10/0 per year and the total cost of one unit is $100. -,._.s_.._ ...
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