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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.
What are come strategic initiatives that Sigma could pursue to prolong its growth naming the product lifecycle and how Sigma will need to recognize the stage of the lifecycle?
How X control chart is used? X control chart is used with go and not go inspection.
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