1. What is your understanding of the concept of Materials logistics management (MLM)? Does the MLM stand validated in present business circumstances too? Comment.
2. Differentiate between
a. Purchasing and subcontracting
b. Controllable and Non-controllable cost characterizations
3. How does JIT differ from MRPII? Briefly discuss the basic requirements and assumptions of JIT implementation.
4. Consider a product such as a car or a computer or a lock that is being manufactured. Make a simple sketch of this product and identify the following:
a. Independent and dependent demand items
b. Raw materials inventory
c. Work-in-process inventory
d. Finished goods inventory
5. What do you understand by the term codification? What type of information should be built into a code?