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Meaning of economic order quantity

 

 

 

Economic order quantity

 

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Business glossary

 

Meaning of term economic order quantity :

 

The economic order quantity is the level of stock that minimises the firm's costs. Holding stock will raise a firm' costs, but ordering small quantities of stock will also raise their costs as it is cheaper to buy stock in large quantities. The economic order quantity takes account of both these factors to work out the level of stocks which will minimise costs.

 

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Economic order quantity

 

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Meaning of term economic order quantity

 

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