Examlex
EOQ Lot-Sizing
Economic Order Quantity (EOQ) is a formula used to determine the optimal quantity of stock to minimize the total costs of inventory management.
Setup Cost
The expenses incurred to prepare equipment or processes for manufacturing an order or batch of goods, typically involving preparation time and materials.
Inventory Holding Cost
Expenses related to storing unsold goods, including warehousing, security, insurance, and deterioration or obsolescence.
Product Structure Tree
A hierarchical representation of all the components and sub-components required to build a product, showing the relationship between the parts and the quantities needed.
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