It is something which has been purchased by the consumer.
what are the economic criticisms of quantity order approach
economic order quantity contributes to the control of stock
Demand and supply forces
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
Get the most for your money, get the cheapest there is,quantity is key.
what are the economic criticisms of quantity order approach
economic order quantity contributes to the control of stock
Demand and supply forces
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
Get the most for your money, get the cheapest there is,quantity is key.
Salt
Salt
A resource with desired quantity less than its demand.
Economic order quantity is the small lot size to minimize the inventory cost.
mercantilism
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).
It is the amount bought when demand matches supply. When this happens, the items are sold at the equilibrium price.