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1.2.4 Classic EOQ Method in Inventory

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EOQ model intent to resolve ideal number of units to arrange, so that administration can minimize the total cost associated with the purchase expense, transportation price and storage of a product. In other words, the classic EOQ is the amount of inventory to be requested per time for limiting yearly stock cost. EOQ which is profoundly act as a gadget for Inventory Control.

Mathematics in Computational Science and Engineering

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