1)What is wealth, and how is it created ? What is value added, and how is it achieved ? Explain with examples
2)What is period order quantity ? How is it established ? When can it be used ? Explain with examples ?
also define 1) Annual ordering cost
2) Annual carrying cost
3) Total annual cost
With some examples ?
3)What are the five basic modes of transportation ? What are the three physical elements in the transportation system ? For each of the five modes, describe who provides them and how they are funded. Also describe why are train service cheaper than road transport for bulky items and why trucks provide a fast flexible service
4)What is valve to the user ? How is it related to quality ? What are the elements of product cycle loop ? For what is each responsible ? Prepare a situation in which the above terms can be easily explained an illustrated.
thanks in advance