What does safety stock provide safety against

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Reference no: EM131256335

1. Explain what is meant by the expression "robust model." Specifically, what would you tell a manager who exclaimed, "Uh-oh, we're in trouble! The calculated EOQ is wrong; actual demand is 10% greater than estimated."

2. What is "safety stock"? What does safety stock provide safety against?

3. When demand is not constant, the reorder point is a function of what four parameters?

4. How are inventory levels monitored in retail stores?

5. State a major advantage, and a major disadvantage, of a fixed-period ( P ) system.

Reference no: EM131256335

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