problem 1:

a) Why it is essential to control the inventories? What are the methods available for Inventory Controls?

b) prepare brief notes on:

i) VED classification
ii) FSN classification
iii) SDE classification
iv) HML classification

problem 2:

a) describe the concept of ‘Economic Order Quantity’. And describe it graphically?

b) Why is safety stocks needed? What are the factors which affect the safety stock?

problem 3:

a) Describe the special inventory management systems and the situation where they are appropriate?

b) prepare brief notes on:

i) Imparts stock control.
ii) Two Bin System.

problem 4:

a) Describe the advantage of MRP II? How do we implement MRP II?

b) Differentiate between materials planning process and MRP process?