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Economic Order Order Quantity is defined as 1 . the lot size that minimizes total annual cycle - inventory holding and ordering costs. 2 .

Economic Order Order Quantity is defined as
1.
the lot size that minimizes total annual cycle-inventory holding and ordering costs.
2.
the amount to order whenever demand for the items is inconsistent or at least variable.
3.
the least expensive price for a given lot size.
4.
the maximium allowable lot size order given warehousing constraints.

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