earning Objectives -
After reading thischapter, you should be able to do the following:
Understand the fundamental differencesamong approaches to managing inventory.
Appreciate the rationale and logic behind theEconomic Order Quantity (EOQ) approach toinventory decision making, and be able tosolve some problems of a relativelystraightforward nature.
Understand alternative approaches tomanaging inventory ---JIT, MRP, and DRP.