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Define the term Economic Order Quantity.
Economic Order Quantity (EOQ):
A mathematical computation for a fixed quantity of inventory ordered every time which would minimise the whole of ordering and holding cost. Economic Order Quantity is an illustration of a continuous inventory system.
Type of Process Technologies - Continuous of Flow Production Continuous of Flow Production: Batch methods are characterized by the irregularity in the way the work is carried
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Know discuss what business you selected and the best possible method for determining the value of the business you selected. Explain your rationale
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