Question 1:
a) Why it is essential to control the inventories? What are the methods available for Inventory Controls?
b) Write brief notes on:
i) VED classification
ii) FSN classification
iii) SDE classification
iv) HML classification
Question 2:
a) Explain the concept of ‘Economic Order Quantity’. And explain it graphically?
b) Why is safety stocks needed? What are the factors which affect the safety stock?
Question 3:
a) Describe the special inventory management systems and the situation where they are appropriate?
b) Write brief notes on:
i) Imparts stock control.
ii) Two Bin System.
Question 4:
a) Describe the advantage of MRP II? How do we implement MRP II?
b) Differentiate between materials planning process and MRP process?