Economic production quantity
id:
economic-production-quantity-252-3634659
title:
Economic production quantity
text:
The economic production quantity model determines the quantity a company or retailer should order to minimize the total inventory costs by balancing the inventory holding cost and average fixed ordering cost. The EPQ model was developed and published by E. W. Taft, a statistical engineer working at Winchester Repeating Arms Company in New Haven, Connecticut, in 1918. This method is an extension of the economic order quantity model. The difference between these two methods is that the EPQ model a
brand slug:
wiki
category slug:
encyclopedia
description:
Model in inventory management
original url:
https://en.wikipedia.org/wiki/Economic_production_quantity
date created:
date modified:
2023-11-29T05:31:49Z
main entity:
{"identifier":"Q5333534","url":"https://www.wikidata.org/entity/Q5333534"}
image:
fields total:
13
integrity:
14