problem1. describe the following terms and give an appropriate ex for each:

• Inventory

• Inventory Policy

• Inventory Management Technique

problem2. Demand for inventory can be categorized as dependent or independent type:

• describe the meaning of each type of demand.

• How would you ascertain the future requirements for dependent and independent demand items?

problem3. The Inventory Manager of an organization is responsible, among others, for providing stationery items to the internalb customers of the entity.

• Which Inventory Policy should the manager opt in this case?

• describe the definition of the Inventory Policy opted by Inventory manager.

problem4. Why is it significant for an Inventory Manager to give a satisfactory service level to his internal customers? Give three probable reasons and describe your answers appropriately.

problem5. describe in brief how the following Inventory Management performances can be measured:

• Inventory Service Level

• Customer Satisfaction