Q1: Read through these examples and understand (without concentrating on the math) with these examples, What is the overall concept of this and why is it done (how does it benefit managers)? Q2: T

 Q1: Read through these examples and understand (without concentrating on the math) with these examples,  What is the overall concept of this and why is it done (how does it benefit managers)?

Q2:  The problem accompanying it discuss EOQ.  Read through these examples and understand (without concentrating on the math) what these examples,  What is the overall concept of this and why is it done (how does it benefit managers)?

Q3:  The practice problem accompanying it discuss Reorder Point.  Read through these examples and understand (without concentrating on the math) what these examples,  What is the overall concept of this and why is it done (how does it benefit managers)?

 Q4:  You are the administrator of a 15 physician group practice. After completing a physical inventory, you have concluded that the practice has about three times more inventory than is needed based on current demand. You need to meet with the physical and prove that they have excess inventory. What would you include in your presentation? 

Q5:  Which is more important – strategic planning or operational planning – and why?