- Briefly define holding costs and inventory costs, and explain the relationship between the two when defining an inventory policy.
- Find at least one business example of a fixed-order quantity system versus a fixed period quantity system. What are their differences? Which do you think is better and why?
- Briefly describe the concept of the ABC inventory classification model.
- Identify an example of VMI. Explain the benefits to both the vendor and retailer. Identify some of the risks for both parties.