Business, Legal & Accounting Glossary
EOQ. The amount of orders that minimizes total variable costs required to order and hold inventory.
The economic order quantity was not an area that I had much interest in and I had my friend do it for me instead.
You should try and make sure that you make the right economic order quantity so that you don’t get more than you need.
In order to ensure the most cost efficient balance of stock on hand and stock ordered, Business Place, Inc uses the principle of economic order quantity to ensure a perfect balance between holding costs and purchase costs for its top selling products.
EOQ
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Economic Order Quantity are sourced/syndicated and enhanced from:
This glossary post was last updated: 30th October, 2021 | 0 Views.