Many executive decisions are based on the lowest total cost. Yet each of these decisions involves a trade$-$off between different components of the total cost calculation. What are three examples of these trade$-$offs?

ordering in large quantities versus keeping lower inventories in stock

having longer global distribution channels versus shorter regional distribution channels

receiving lower prices from foreign suppliers versus reducing transportation costs

establishing continuous review policies versus accepting customer back orders

determining reorder points versus establishing replenishment levels

managing the production schedule versus meeting customer demand