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Syllabus A2. Inventory control

Syllabus A2

Inventory control

a) Discuss the key considerations when developing an inventory ordering and storage policy.
b) Define and explain work in progress.
c) Define economic order quantity (EOQ) .
d) Apply the EOQ model.
e) Discuss the effects of just-in-time on inventory control.
(Note: Economic Batch Quantities, where all items in a batch do not arrive simultaneously, will not be examined)