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Explain about the Economic Order Quantity and Total Cost with diagram.
Economic Order Quantity and Total Cost: The total of Inventory procurement cost and also inventory carrying cost is total cost.
In the above given figure, the procurement cost and inventory carrying cost have been plotted along regarding quantity in lot. There total cost is computed by addition the procurement cost and carrying cost. Total cost is less at the point A and therefore B shows the Economic Order Quantity (EOQ).
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How do I create a risk management plan
Discuss the typical data input errors in project management.
This is one of the most tedious and difficult phases of design yet quality literally depend upon the correctness and completeness of the manufacturing drawings and specifica
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