Module 2: Understanding EOQ Model - Lesson Summary | en - 832 - 54855
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    Kelvin K.
    DE
    Kelvin K.

    still trying

    Epie E.
    TH
    Epie E.

    The EOQ is that order quantity at which the total holding cost of inventory and ordering cost are at their minimum. Extensions could be made on the EOQ in the like of backordering cost and multiple items. THe EOQ provides asnswers to the how much is ordered and when the inventory is ordered,and allows just the ordering of just enough inventory to replanish stock when it gets to its zero. The EOQ considers two importan assumptions; that demand remains steady throughout the year and that inventory is used at a fixed rate. Equally the EOQ can change due to quantity discounts offered by some supplires. Wow course was very fruitful.

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