Answering the review questions below will assist you in assessing your understanding of the concepts covered in Module Six. Answer the questions as completely as possible.

Prompt: Use your textbook to answer the questions below.

Guidelines for Submission: Your answers must be submitted in a Microsoft Word document with double spacing, 12-point Times New Roman font, and one-inch margins. Include the question with your answer immediately following. Your Microsoft Word document should include an APA-formatted reference page for your textbook and any outside resources.

1.Discuss the relationship between service level, uncertainty, safety stock, and order quantity. How can trade-offs between these elements be made? (Ch. 7)

2.What is the difference between the probability of a stock-out and the magnitude of a stock-out? (Ch. 7)

3.Customer-based inventory management strategies allow the use of different availability levels for specific customers. Discuss the rationale for such a strategy. Are such strategies discriminatory? Justify your position. (Ch. 7)

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