• Introduce the different types of inventories that can exist in an organization and provide a rationale for why companies maintain
• Identify the various costs associated with carrying and maintai ninginventories.
• Define the classical inventory models and the conditions necessary for them to be applicable.
• Show how the economic order quantity IS calculated for each of the different inventory models.
• Introduce the single-period inventory model and the concept of yiel management with respect to servce operations.
• Present some of the current inventory management trends and issues that exist in companies today.