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Explain the facts on which Economic Order Quantity is depend
Economic Order Quantity depends on two costs:
(i) Inventory procurement costs which consists of expenditure connected with
* Obtaining quotations
* Processing Purchase Requisitions
* Expediting and Following up Purchase order
* Receiving materials and after that inspecting them Processing Invoices Procurement costs of seller reduce as the order quantity raises.
(ii) Carrying Costs that vary with quantity ordered contains
* Interest on capital investment
* Cost of storage services
* Cost including deterioration and obsolescence
* Cost of insurance and property tax etc.
Carrying costs are approximately directly proportional to the order size or lot size quantity.
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18 carpets were observed colsely and the number of defects in their texture was noted.Draw a control chart for the number of defects no.of.defects: 0 1 2 3 4 5 6 no.of carpets: 0 1
The Effects of Leadership on Innovative Program Implementation. Dove, Maria G.; Freeley, Mary Ellen. Delta Kappa Gamma Bulletin, spring 2011, Vol. 77 Issue 3, p25-32. Read this art
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The following marketing phenomenon occurs when there exists within two city blocks the following hamburger outlets: McDonald's, Burger King, Sonic, and Wendys.
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