- economic production quantity
- economic production quantity
Economic Production Quantity model (also known as the EPQ model)
determines the quantity a company or retailer should order to minimize the total
inventory costs by balancing the inventory holding
cost and average fixed ordering cost. The EPQ model was developed by E.W.
Taft in 1918.
source: http://en.wikipedia.org/wiki/Economicproductionquantity
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