Production and Operations Analysis, Seventh Edition
Production and Operations Analysis, Seventh Edition
7th Edition
ISBN: 9781478623069
Author: Steven Nahmias, Tava Lennon Olsen
Publisher: Waveland Press, Inc.
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Chapter 4.8, Problem 28P
Summary Introduction

To determine:

Optimal order quantity

Introduction:

Economic order quantity is the optimal quantity which is ordered keeping in mind to minimize the cost and fulfilling of demand. This is usually done when cost varies according to the number of units demanded.

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