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EOQ meaning in Accounts and Finance ?

Answer» What is Economic Order Quantity mean?

Economic Order Quantity (EOQ), also known as Economic Purchase Quantity (EPQ), is the order quantity that minimizes the total holding costs and ordering costs in inventory management. It is one of the oldest classical production scheduling models. The model was developed by Ford W. Harris in 1913, but R. H. Wilson, a consultant who applied it extensively, and K. Andler are given credit for their in-depth analysis.

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