IM1: For an industry you are interested in, select a specific firm and give examples with explanation of two a) independent demand and b) dependent demand inventory items (if possible). Note: if you do not believe dependent demand inventory items apply to the firm you have chosen, use one of its suppliers (such as a manufacturing firm) instead. 1. Industry: 2. Specific Firm: 3. Inventory Item Examples a) 2 Independent Demand Examples with Explanation: i. Example 1: ii. Example 2: b) 2 Dependent Demand Examples with Explanation (Use Manufacturing Supplier, If Necessary): i. Example 1: ii. Example 2 IM2: Using each of the independent demand examples from the previous question, describe specific a) carrying costs and b) ordering costs of each. 1. Specific Firm: 2. Independent Inventory Item Example 1: a) Carrying Costs: b) Ordering Costs: 3. Independent Inventory Item Example 2: a) Carrying Costs: b) Ordering Costs: IM3: Which type of inventory system would you use in the following situations? 1. Supplying kitchen with food and why: 2. Obtaining a daily newspaper and why: 3. Buying gas for your car and why: IM4: 1) Explain the ABC classification system and 2) indicate its advantages. 1. Explanation: 2. Advantages: IMS: Identify the two basic decisions addressed by inventory management and discuss why the responses to these decisions vary under continuous and periodic inventory systems. Insert your answer here. a) Two Basic Decisions: b) Why/How They Vary: IM6: a) Explain how the order quantity is determined using the basic EOQ model. b) How must the application of the basic EOQ model be altered in order to reflect quantity discounts? Insert your answer here. a) How it is determined: b) Impact of quantity discounts