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Inventory models deal with the problem of determination of how much to order at a point in time and when to place an order. The main objective is to minimize the sum of three conflicting inventory costs. the cost of holding or carrying extra inventory the cost of shortage or delay in the delivery of items when it is needed a cost of ordering or setup. These are also useful in dealing with quantity discounts and selective inventory control.
Assumption for students Test a.The parent population from which the samples is drawn in normal. b.The sample observations are random i ,e the given sample is drawn
one example
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WHAT ARE THE SIGNIFICANCE OF OPERATION RESEARCH
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
Define the role of the RBI in informing FEMA?
This method involves a systematic and comprehensive study of a particular community organization group etc, with a view to the analysis of a social problem and the presen
Question 1 What is intrinsic quality? Explain key dimensions of a quality product or service Question 2 Explain any five sources of standards Question 3 What is Critical
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You are required to analyse the case study, as indicated under these headings: 1. Identify FIVE persons, bodies, organisations or groups in the case study. 2. For EACH of the
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