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Economic Order Quantity

Economic Order Quantity

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Published by ramanexotic007

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Published by: ramanexotic007 on Sep 19, 2009
Copyright:Attribution Non-commercial

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03/24/2013

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By :Raman Preet Singh
 
Definitions
Inventory-
A physical resource that a firmholds in stock with the intent of selling itor transforming it into a more valuablestate.
Inventory System
- A set of policies andcontrols that monitors levels of inventoryand determines what levels should bemaintained, when stock should bereplenished, and how large orders shouldbe
 
Inventory
Def. A physical resource that a firmholds in stock with the intent of selling it or transforming it into amore valuable state.
Raw Materials
Works-in-Process
Finished Goods
Maintenance, Repair andOperating (MRO)

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