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Lesson Summary

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    Wendy K.
    TT
    Wendy K.

    There is a grammatical error on page 1 of the lesson summary

    Epie E.
    TH
    Epie E.

    Demand can be either very certain (deterministic demand) or comes with alot of uncertainty(probabilistic demand).course good.

    Epie E.
    TH
    Epie E.

    After the what quantity and when to order questions are answered,the veriouse cost associated with such orders must be taken into account for their minimisation.such cost include; cost of time, order cost, holding cost and backorder cost.very fruitful summary.

    Epie E.
    TH
    Epie E.

    inventory management got to have a good understanding of what quantity of material to order as well as know perfectly well when to place the order so lead time can be met and customer satisfaction(demands met in totality)maintained. Good course.

    Epie E.
    TH
    Epie E.

    models mentioned so far are the single and multi-period inventry periods. the single period inventory model assume there is just a single period for planning and decisions are taken just once whereas the multi-period model assume there are many planning periods.

    Epie E.
    TH
    Epie E.

    order Quantity identified with the letter Q and the reorder level identified by the letter r

    Dusty D.
    US
    Dusty D.

    Also need to know lead times when ordering material.

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