1. What do you mean by inventory control? Describe the objective of maintaining inventory in any production unit.
2. What do you mean by EOQ? Deduce the expression for EOQ when demand of the item is uniform, the production rate is infinite and no stock-outs are allowed.
3.a) Describe the terms: lead time, stock out, buffer stock, inventory carrying cost in detail.
b) prepare down the difference between in-process inventory, safety stock inventory and seasonal inventory
4. describe the fixed period quantity inventory model? Also compare and contrast P-system with Q-system
5. What is meant by selective control of inventory and describe different selective control techniques.
6. What do you mean by ABC analysis? Describe its importance in inventory control with appropriate ex.
7. prepare down the difference between pull system and push system.