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Economic Order Quantity
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TOPIC: Economic Order Quantity
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Economic Order Quantity 1 Year, 3 Months ago Karma: 12
Economic Order Quantity (also known as the Wilson EOQ Model or simply the EOQ Model) is a model that defines the optimal quantity to order that minimizes total variable costs required to order and hold inventory.
The model was originally developed by F. W. Harris in 1915, though R. H. Wilson is credited for his early in-depth analysis of the model.

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