MGSC 368v11

Single-period problem - Answers the question of how much to order when an item is purchased only one time and it is expected that it will be used and then not reordered. Fixed-order quantity model (Q-model) - An inventory control model where the amount requisitioned is fixed and the actual ordering is triggered by inventory dropping to a specified level of inventory. Fixed-time period model (P-model) - An inventory control model that specifies inventory is ordered at the end of a p...