1- What is meant by the term service level?

2- Under what circustances would the amount of safety stock held be: a-) Large? b-) Small? c-) Zero?

3-How would you respond to the criticism that EOQ models tend to provide misleading results because values of D, S, and H are, at best educated guesses?

4-Why might it be inappropriate to use inventory turnover ratios to compare inventory performance of companies that are in different industries?