1. Identify the different types of inventory used. 

2. Explain the different functions of its inventory. 

3. Explain the objectives of inventory management at the local business. 

4. Describe how the objectives of inventory management can be measured. 

5. Explain the different methods for measuring customer service. 

6. Compare the two techniques, inventory turnover and weeks of supply.

7. Describe the relevant costs associated with inventory policies. 

8. Explain what is included in the annual holding cost. 

9. Describe what is included in ordering or setup costs. 

10. Describe what is included in shortage costs. 

11. Explain the assumptions of the EOQ model. 

12. Describe techniques for determining order quantities other than the EOQ or EPQ. 

13. Describe how changes in the demand, ordering cost, or holding cost affect the EOQ. 

14. Explain how a company can justify smaller order quantities. 

15. Explain what safety stock is for. 

16. Explain how safety stock affects the reorder point. 

17. Describe the type of products that require a single-period model. 

18. Explain the basic concept of ABC analysis. 

19. Explain the concept of perpetual review. 

20. Explain how two-bin systems work