ILLUM ILUULUUSEWINZUFLUUSUWOTROScreen Student Instructions: Chapter 13 Inventory Management 1. What are the primary reasons for holding inventory? 2. What are the requirements for effective inventory management? 3. Briefly describe each of the costs associated with inventory. 4. What potential benefits and risks do RFID tags have for inventory management? 5. Why might it be inappropriate to use inventory turnover ratios to compare inventory performance of companies that are in different industries? 6. List the major assumptions of the EOQ model. 7. How would you respond to the criticism that EOQ models tend to provide misleading results because values of D, S, and Hare, at best, educated guesses? 8. Explain briefly how a higher carrying cost can result in a decrease in inventory. 9. What is safety stock, and what is its purpose? 10. Under what circumstances would the amount of safety stock held be a. Large? b. Small? c. Zero? 11. What is meant by the term service level? 12. Describe briefly the A-B-C approach to inventory control. You must upload at least 1 file Upload a file Week 11 rasatinlaala