1. Explain the functions of both continuous systems inventory and intermittent systems inventory, and then in your own words, explain the five main types of inventory and why they are necessary.
2. When is it considered essential to use the competitive bidding process? Identify the four criteria, and explain why this process is used to ensure quality, cost, and delivery to meet the expectations of the company.
3. Explain how ethics impact and influence purchasing decisions in terms of perception, conflicts of interest, and relationships with suppliers.
Continuous systems inventory:
This system of inventory is used to store inventory for production of standardized products through assembly line. Therefore, if the product is to be produced in masses and there are no custom orders, continuous system inventory helps in meeting the demand of product and supply. The objective is providing the material as required in processing and
