ECONOMICS

Detailed explanation-1: -Quantity and timing are the two basic issues in inventory management. Cycle counting can be used in motorcycle inventory control. Cycle counting can also be used in automobile inventory control. Using the EOQ model, the higher an item’s carrying costs, the more frequently it will be ordered.

Detailed explanation-2: -The two basic issues in managing inventory are determining how much to order and when to place the order.

Detailed explanation-3: -Quantity and timing are the two basic issues in inventory management. The two basic issues in inventory are how much to order and when to order. Cycle counting can be used in motorcycle inventory control. As carrying costs increase, the optimal order quantity decreases.

Detailed explanation-4: -Two types of inventory are periodic and perpetual inventory. Both are accounting methods that businesses use to track the number of products they have available.

Detailed explanation-5: -Four major inventory management methods include just-in-time management (JIT), materials requirement planning (MRP), economic order quantity (EOQ), and days sales of inventory (DSI).