EOQ is decided on the basis of ________
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Answer:
that consumer demand is constant
Explanation:
The basis for the EOQ formula assumes that consumer demand is constant.
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Answer:
the customer demand is constant.
Explanation:
Also referred to as 'optimum lot size,' the economic order quantity, or EOQ, is a calculation designed to find the optimal order quantity for businesses to minimize logistics costs, warehousing space, stockouts, and overstock costs. The formula is: EOQ = square root of: [2(setup costs)(demand rate)] / holding costs.
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