Discuss the purpose of MRP within the Manufacturing Planning & Control process

2.Why do firms engaged in revenue management focus on maximizing revenue instead of profit as many companies typically do?

3.Identifytwoproducts or industries for which revenue management methods would apply.

4.Suppose that a hotel has 150 rooms available on a given night. The hotel has held back 65 rooms for high-paying business travelers who will book at a time closer to the night of the stay. The hotel also has decided to overbook its capacity on that night by 10 rooms. What will the hotel's protection level and booking limit be?

5.Suppose that a company has the following financial data. Sales is $17 million, cost of goods sold is $12 million, general and administrative expenses are $3 million, and average inventory is $2 million. What is the inventory turnover ratio?

6.Suppose that a firm is using the newsvendor model to determine order quantities for an item. The unit production cost of the item increases while all other related parameters remain the same. Will the optimal order quantity increase, decrease, or stay the same?