. A group of students organizes a bake sale in which they sell hundreds of cookies at $1per piece. They set up a table on campus and wait for students to come and purchasetheir cookies. Consider the following variables in this bake sale operation:1. Size of the cookies2. Weather conditions on campus3. Organization of the table4. Number of cookies sold5. Competition from other fund-raisers coinciding on campus6. Amount of advertising and shouting of the students at the bake sale table7. Number of students on campus that dayWhich of these variables is an output variable?a. 3b. 4c. 5d. None of the above

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Inventory Management

The supply chain is crucial to a firm's operations as it manages the inflow and outflow of products that are manufactured from the initial stage to the end product. It also considers the raw materials needed at different stages of production and when the work is in progress. Inventory management functions consist of ordering, storing, and procuring the organization's inventory like raw materials, factors, and finished products. It's also used for controlling the number of products for trade and helps manage the organization's inventory and stock. Inventory Management has been defined as having the right inventory, of the right volume, at the right cost.