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Briefly Explain Why the Economic Production Lot Size (ELS) Is

question 23

Essay

Briefly explain why the economic production lot size (ELS) is actually larger than the EOQ when there are noninstantaneous replenishments.


Definitions:

Two-Thirds

A fraction representing the division of something into three equal parts, with two of those parts being the focus.

Ordinances

Local laws or regulations enacted by municipalities or other local governing bodies.

Legislative Laws

Statutes and regulations enacted by a legislature or other governing body to prescribe conduct, establish duties, and regulate society.

Uniform State Laws

Model statutes drafted by legal experts to achieve consistency in areas of law within different states, which states can adopt or modify as they see fit.

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