Observation

Most of the candidates who attempted this question had excellent performance in parts (a) and (b) of the question.  Part (c) of the question was difficult for the candidates.  The required response to part (c) of the question is:

(c)       
(i)         Lead Time: is the time between placement of order by a customer and the time the order is delivered.  
(ii)        Bin Card: is a reference document for recording stock after every receipt and every issue and their current balances to avoid closing down the firm for stock taking.
OR
It is a document that records the status of the stock held by a firm.

(iii) Re-order level is the stock level at which a retailer/seller re-orders stock to avoid over and/or under stocking of inventories.