Contrast eoq and epq inventory control models

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Reference no: EM132076565

1. Compare and contrast EOQ and EPQ inventory control models. Provide details of assumptions of each model and advantages and disadvantages of each. If a firm converts to EPQ, would its order quantity (Q) be less or more? Explain

2. Describe inventory holding costs and order (set-up) costs and discuss the trade-off between them. (ii) Describe the A-B-C Classification approach and its advantages and disadvantages.

Reference no: EM132076565

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