Question

what is EOQ
Answer : EOQ means that Economic Order Quantity. EOQ minimises it's total cost related to ordering, receiving and holding the inventory. The EOQ formula is best used in situations where demand, ordering and holding cost remain constant over time.​

Answer 1

Hey Mate !

Economic order quantity

DescriptionIn inventory management, economic order quantity is the order quantity that minimizes the total holding costs and ordering costs. It is one of the oldest classical production scheduling models.

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