Explain the opposing costs that are part of the economic order quantity calculation.
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Explain the opposing costs that are part of the economic order quantity calculation.
Economic Order QuantityEconomic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. This production-scheduling model was developed in 1913 by Ford W. Harris and has...
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Ordering costs and carrying costs are the two inversely related costs considered in the econo...View the full answer
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Related Book For 
Cost Management Measuring, Monitoring And Motivating Performance
ISBN: 1601
3rd Canadian Edition
Authors: Leslie G. Eldenburg, Susan K. Wolcott, Liang Hsuan Chen, Gail Cook
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