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What is economic order quantity

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Question 1. What is Economic Order Quantity (EOQ)? What assumptions is the model based on? Provide some examples of the types of firms that might use EOQ, and what they use it for.

Question 2. What is the purpose of inventory, and what are the primary reasons for companies to carry inventory? Provide examples for each reason

Question 3. What is the purpose of a continuous review system, and how does it work? What makes it different from a periodic review system?

Question 4. What are the similarities and differences between MRP, order-point systems, and ERP?

Reference no: EM132878937

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