Define inventory types and the purpose of inventory.
LO14.2 Explain the costs incurred by inventory.
LO14.3 Differentiate between independent and dependent demand.
LO14.4 Calculate the economic order quantity and identify the underlying assumptions.
LO14.5 Compute the parameters for a continuous review and periodic review inventory control system.
LO14.6 Recall the uses of periodic and continuous review systems.
LO14.7 Describe how inventory and service level are related.
LO14.8 Define Vendor Managed Inventory and the ABC system
