Definitions for "Economic Order Quantity"
EOQ. The amount of orders that minimizes total variable costs required to order...
A lot size model that attempts to balance the costs associated with placing individual orders with the costs of carrying inventory. Defined as the square root of: 2 X annual demand X ordering cost divided by inventory carrying cost (as a %) x unit cost.
In fixed order quantity systems, the size of an order that minimises the total inventory cost, under a given set of circumstances, obtained by trade off analysis between the cost of placing an order and the cost of holding stock
Keywords:  shock, rents
Economic rents Economic shock
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