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EOQ Model with quantity discounts
Circumstances frequently occur where firms are able to obtain quantity discounts for large purchase orders. Buying in bulkiness has some merits and demerits.
Advantages:(i) A saving in purchase rule decreases in unit cost, which consists of the total amount of discount for the period.
(ii) A reduction in the total ordering costs because fewer orders are placed to take advantages of the discounts.Disadvantages:
Increased holding cost arising from higher stock levels when large quantities are purchased. Like:
• Stock out cost• Insurance• Deterioration• Security etc.
What are the limation of semi variable cost and how to overcome it?
The least-cost method The process is described as follows: Assign as much as possible to the variable with the least unit cost in the whole tableau. (Ties are broken randomly).
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