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What is economic order quantity

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Reference no: EM132498282

Question 1. What is Economic Order Quantity? What is its significance in inventory management?

Question 2. What is Reorder Point? What is its significance in inventory management?

Question 3. What is Materials Requirement Planning (MRP)? Describe its significance in inventory management? Distinguish MRP 1 and MRP 2.

Reference no: EM132498282

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