Q1. What are the responsibilities of inventory management?

Q2.What are decision rules?Why are they necessary?

Q3. Why is less inventory needed in a line-flow manufacturer system than in lot or batch manufacturing?

Q4. Describe the function and purpose of the following kinds of inventories: a. Anticipation b. Fluctuation c. Lot size d. Transportation

Q5. What are the five costs associated with inventories?

Q6. Name and describe the categories of ordering costs found in a factory.

Q7. What are the balance sheet equation and the income statement equation?

Q8. What do inventory turns and days of supply measure?

Q9. What are the five steps in the procedure for classifyinginventory by annual dollar usage?

Q10. What is the difference between FIFO and LIFO?