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#economic_production_quantity

Economic production quantity

Model in inventory management

The economic production quantity 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 and published by E. W. Taft, a statistical engineer working at Winchester Repeating Arms Company in New Haven, Connecticut, in 1918.

Wed 29th

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Economic production quantity Economic order quantity Economic batch quantity Production (economics) Scheduling (production processes) Production–possibility frontier Outline of production Factors of production Quantity theory of money Production function
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