The EOQ can be calculated using a
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Economic order theory assumes that the average inventory held is equal to one half of the reorder quantity
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The EOQ is the quantity that minimises the sum of the annual order costs and the annual holding costs. The annual holding costs equal the annual order costs at this level
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In the economic order quantity or EOQ model the equation D/Q calculates
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The order quantity or purchase quantity that minimises the total annual cost of ordering the item plus holding it in store is called the economic order quantity or EOQ
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In the economic order quantity or EOQ model the equation (Q/2) × CH calculates
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For the purpose of Economic order quantity (EOQ) the relevant costs are
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The Economic Order Quantity model (EOQ) is a mathematical model used to calculate the quantity of inventory to order from a supplier each time that an order is made. The aim of the model is to identify the order quantity for any item of inventory that minimizes total annual inventory costs
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To minimize the total cost of holding and ordering inventory using EOQ model. It is necessary to balance the relevant costs. These are:
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Which of the following is/are the assumptions of Economic order quantity (EOQ)?
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The costs associated with inventory is/are
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Shortage costs of inventory include
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