Inventory Management

1. Describe and provide examples of dependent and independent demand. 2. Describe the four basic types of inventory. 3. What is the ABC inventory system, and how is it used to manage inventory? 4. Describe inventory turnover and how it can be used to manage inventory. 5. Why is it important to conduct cycle counting? 6. Briefly describe how RFID can be used to manage inventory. 7. Explain why item-level tagging is more expensive than case-level tagging in RFID. 8. What are the assumptions of the EOQ model? 9. How is the EMQ model related to the EOQ model? 10. Why is inventory management important to SCM?