Most inventory models attempt to minimize

3 Which of the following inventory models considers backorder costs? O a. Economic Order Quantity with Quantity Discounts O b. Basic Economic Order Quantity C. Economic Order Quantity with Planned Shortages Od. Economic Production Quantity

17   Which of the following is not an assumption of the basic fixed-order-quantity inventory model? Select one: a. Lead time is constant. b. Returns to scale of holding inventory are diminishing. c. Demand for the product is uniform throughout the period. d. Ordering or setup costs are constant. e. Inventory holding cost is based on average inventory.

Which of the following is not a common type of inventory? a) Raw materials b) Work-in-progress c) Finished goods d) Customer complaints