IGNOU BRL 115 2026 - Economic Order Quantity (EOQ).

Question

Economic Order Quantity (EOQ).

02 Mar 2026

Answer :

Word Count : 267

Economic Order Quantity (EOQ) is a fundamental concept in supply chain management, particularly in retail business, which helps in determining the optimal order quantity that minimizes the total inventory costs. These costs generally include ordering costs, holding costs, and sometimes shortage costs. In retail, EOQ assists managers in balancing the cost of purchasing goods with the cost of storing them, ensuring that inventory levels are adequate to meet customer demand without overstocking or understocking. The EOQ model is based on several key assumptions: constant demand, constant lead time, fixed ordering costs, and uniform unit cost of inventory. By applying EOQ, retail

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