What is the economic order quantity if annual demand is 320, order costs are $300, and holding costs are $30? Explain the business benefits of being able to calculate the EOQ
What will be an ideal response?
The economic order quantity based on the values provided would be 80 units per month. Being able to calculate the EOQ for a particular item will lead to costs savings for a company by minimizing holding and ordering costs.
Computer Science & Information Technology
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