Which factor/s need to be considered for deciding the order quantity of products?
Answers
Answer:
a force is a push or pull which is applied to the surface
Answer:
Economic order quantity is a calculation use to determine the optimal order quantity with the goal to minimize the warehousing space, stockouts, logistics costs and overstock costs. EOQ model has main goal to determine the ideal order quantity.
1. Holding costs (H)
- Holding cost refers to the total cost of holding inventory, also known as carrying costs.
- An important retail supply chain management strategy is Minimizing inventory costs.
- It tells about expensive on holding and storing inventory per unit per year.
2. Annual demand (D):-
Annual demand refers the demand for a product each year. We can determine the number of units sell year over year by looking into historical order data.
3. Order cost (S):-
‘Setup cost’ refers how much does an order cost per purchase. It is calculated on a per-order basis and also includes both the shipping and handling costs.
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