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what are the economic criticisms of quantity order approach
economic order quantity contributes to the control of stock
The Economic Order Quantity (EOQ) is the number of units that a company should add to inventory with each order to minimize the total costs of inventory-such as holding costs, and order costs
Demand and supply forces
Production Order Quantity (POQ) is a model that answers how much to produce and when to order. In this model, the materials produced are used immediately and hence lowering the holding cost that in Economic Order Quantity (EOQ).