Part 2 [All answers MUST be Handwritten] 1. Explain the concept of "Milk-runs" in detail using a numerical example. [4 Marks] 2. Explain how technological advancements facilitated globalization. [3 Marks] 3. Show the link between supply chain efficiency and company profitability using a numerical example. [4 Marks]: 4. An SKU costing $20 is ordered in quantities of 800 units, annual demands is 12,000 units, carrying costs are 15% of average inventory size, and the cost of placing an order is $100. Calculate the annual total cost. [5 Marks]