Explain the key differences between the FOQ, POQ, and L4L lot-sizing rules
What will be an ideal response?
A fixed-order-quantity (FOQ) rule maintains the same order quantity each time an order is issued but varies the time interval between orders. A periodic-order-quantity (POQ) rule allows a different order quantity to be specified but each order covers the requirements for a fixed number of time periods. A lot-for-lot (L4L) rule covers the gross requirements of a single week's production. POQ and L4L rules strive to avoid remnants and thus have smaller average inventory than FOQ. Because their average inventory is lower, they are less able to respond to last-minute changes in customer requests.
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