Two Fundamental Decisions Must Be Made with Respect to the Replenishment

Multiple Choice

Two fundamental decisions must be made with respect to the replenishment of any item maintained in inventory. First, how many should be ordered? And second, when should they be ordered? These decisions are referred to as __________ and __________ decisions.

A) lot-sizing, lot-timing
B) inventory-planning, inventory-timing
C) materials-sizing, materials-timing
D) block-sizing, block-timing
E) block-planning, block-timing