1. What is model and give 4 examples. State their properties, advantages and limitation.
2. What are the types of inventories? Explain.
3. What is replacement problem? Describe some important replacement situation and policies?
4. What is operation Research? Account for the growing importance Research in business?
5. Briefly discuss the Delphi method of making forecasts.
6. Define an OR model and give 4 examples. State properties, advantages & limitations
7. How do you distinguish between resource leveling and resource allocation problems? State and explain an algorithm for resource allocation.
8. What are different types of inventories? Explain. What functions does inventory perform? State the two basic inventory decisions management must make as they attempt to accomplish the functions of inventory just described by you.