How are Isoquants different from Isocost? Illustrate using graphs.  

“Artificial Intelligence (AI) has roots from the time when the computer became a commercial reality.” Explain, in view of the statement, the history of artificial intelligence. 

Explain law of demand with the help of a demand schedule and demand curve. Does law of demand exist in the real world, explain with the help of an example.  

“Java has become a popular and useful programming language.” Explain, in view of the statement, the features of Java.  

What is Opportunity Cost? Explain with the help of an example why assumption of constant opportunity costs is very unrealistic

Define the terms Management Information System(MIS), Decision Support System(DSS), and Executive Information System(EIS). State the difference between them. 

“Cloud architecture has emerged as technology components that are combined to build a cloud.” Comment on the statement

“Information Technology (IT) has become a strategic necessity.” What do you understand by the term information technology? Also, explain the various types of information systems. 

 Discuss the significance of stock verification in an industry or a retail store.  

 What is the significance of codification? Describe the method of coding with suitable example. 

 What is the significance of codification? Describe the method of coding with suitable example. 

What are the components of hardware used in inventory management system? Discuss the importance of hardware in inventory management

What do you understand by the terms demand fluctuation and demand patterns? With a neat block diagram explain the material conversion process highlighting the role of material stock points it

What is forecasting? What are the various methods of forecasting? Describe them in detail.

The demand for an item is deterministic and constant over a time and it is equal to 600 units per year. The unit per cost of the item is Rs. 50 while the cost of placing an order is Rs. 5. The inventory carrying cost is 20% of the cost of inventory per annum and the cost of shortage is Re. 1 per unit per month. Find the optimal ordering quantity when stock outs are permitted. If the stock outs are not permitted, what would be the loss to the company? 

 A product 'X' is purchased by a company from outside suppliers. The Consumption is 10,000 units per year. The cost of the item is Rs. 5 per unit and the ordering cost is estimated to be Rs. 100 per order. The cost of carrying inventory is 25%. If the consumption rate is uniform, determine the economic purchasing quantity

What is the ABC and VED classification of inventory? List the types of Inventory.  

Distinguish between over-inventory and under-inventory with reference to their consequence in detail.

What is inventory management system? Discuss its importance in managing materials. 

Distinguish between inventory audit process of retail business to that of ecommerce business.