1. The process of finding the best system-wide strategy is known as: a) global optimization b) local optimization c) heuristic solution d) Lagrange Relaxation e) Inspection
2. Consider the following statements: I) Simulation-based techniques are effective optimization tools for a supply chain considered as a dynamic system II) Simulation-based techniques require the user to provide a set of design alternatives beforehand. III) Simulation-based techniques can model supply chain dynamics by incorporating ordering patterns, inventory control policies, and inventory movements inside warehouses Which are true?
a) statement I and II b) statement II and III c) statement I and III d) statement I, II, and III e) none of the statements is true