Module 1: Review Systems

By the end of this module, you will be able to:

Define the concepts of safety stock and reorder level in inventory management 
Explain the tracking procedure of the inventory based on continuous review system
Describe how to determine the reorder point when both lead time and demand vary
Identify the effects of demand uncertainty in inventory management
Outline how to determine the fixed interval reorder point for reviewing the inventory
Distinguish the differences between P-System and Q-System in inventory management