kayleighanne4291 kayleighanne4291

25-10-2022
Business

Answered

What is the order quantity that minimizes total annual cost of inventory? group of answer choices 855. 7 825 875 853. 9.

Answer :

AnjaliP102 AnjaliP102

30-10-2022

Economic order quantity (EOQ) is the quantity that reduces the total annual cost of stock.

What is the significance of economic order quantity?

It aids in determining the ideal quantity of product units to order.
An organization can significantly lower its costs associated with purchasing, delivering, and storing units with the aid of EOQ. By altering the EOQ formula, different production levels can be calculated.
According to the EOQ model, inventory is drained until it reaches zero at a fixed rate and demand remains constant.
The inventory is then replenished with a set number of items to start over at zero. There are no inventory shortages or associated costs because the model assumes instantaneous replenishment.

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