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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.
One day a teller of a bank was robbed. When the robber ran the teller ran after him. Well over taking the robber, the teller was shot in the leg. The teller was given an award for
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