Which of the following best explains 'Camp's formula'?
A) Mathematical formula based upon inventory costs and ordering costs to decide on optimal economic order quantity (EOQ) .
B) Mathematical formula based upon ordering costs to decide on optimal economic order quantity (EOQ) .
C) Mathematical formula based upon inventory costs to decide on optimal economic order quantity (EOQ) .
D) Mathematical formula based upon forecasted demand.
Correct Answer:
Verified
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