Application of statistics-economic order quantities (eoq), Mathematics

Assignment Help:

economic order quantities (EOQ)

Statistics may be utilized in ordering or making economic order quantities as EOQ. It is significant for a business manager to understand that it is an economic cost if one orders a large quantity of items which have to be stored for more long before they are sold. This is as the large stock holds a lot of capital, which could otherwise be utilized in buying other items for sale.

It is significant also to realize that the longer items are stored in the stores extra will be the storage costs

On the other hand if one orders a few items for sale he will acquire relatively low storage expenses however may not be capable to satisfy all the clients. These may lose their customers whether the goods are out of stock. Hence it is advisable to work out the EOQ which will be enough for the clients in a certain period before delivery.

The EOQ will ensure that also minimal costs are acquired in terms of storage

 


Related Discussions:- Application of statistics-economic order quantities (eoq)

Word problem, A computer is programmed to scan the digits of the counting n...

A computer is programmed to scan the digits of the counting numbers.For example,if it scans 1 2 3 4 5 6 7 8 9 10 11 12 13 then it has scanned 17 digits all together. If the comput

Calculate magnitude and direction of maximum principle, At a point in a loa...

At a point in a loaded member, the stresses relative to an x, y, z coordinate system are given by Calculate the magnitude and direction of the maximum principal stress.

Complex analysis test, Can anyone help with my exam. I have 8 questions to ...

Can anyone help with my exam. I have 8 questions to do which is due on 02-14-13

Rates of change or instantaneous rate of change, Rates of Change or instant...

Rates of Change or instantaneous rate of change ; Now we need to look at is the rate of change problem.  It will turn out to be one of the most significant concepts . We will c

1 application of complex analysis in THERMODYNAMICS, Hi, this is EBADULLA ...

Hi, this is EBADULLA its about math assignment. 1 application of complex analysis used in thermodynamics. . what all uses are there in that... plz let mee know this answer.

Quadratic equation, can anyone explain me the concept of quadratic equation...

can anyone explain me the concept of quadratic equation?

Which of the following could be the dimensions the courty x, Katie's school...

Katie's school has a rectangular courtyard whose area can be expressed as 3x 2 - 7x + 2. Which of the following could be the dimensions of the courtyard in terms of x? Since t

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd