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Chemical Engineering Basics - Engineering

Q1:

In inventory control theory, the economic order quantity (EOQ) is the

A lot size corresponding to break even analysis.

B average level of inventory.

C optimum lot size.

D none of these.

ANS:C - optimum lot size.

The Economic Order Quantity (EOQ) in inventory control theory represents the optimum lot size that minimizes the total inventory costs, including holding costs and ordering costs. So, the correct option is:

  • Optimum lot size.