Question

Many business organizations have operations in which inventory management is a

daily and constant process. Managing a Restaurant is one such business, wherein the

procurement and managing various inventory is a very strategic process. Explain the

following concepts (with atleast one example) in Operations of a Restaurant business,

and conclude how relevant is it in the business?

a. Economic Ordered Quantity (EOQ) (5 Marks)

b. Vendor Managed Inventory (VMI) (5 Marks)​

Answer 1

Answer:

Economic ordered quantity(EOQ)

Explanation:

because it is hotel management business