EOQ is used in a(n) ________ inventory system.
A) periodic
B) continuous
C) optimal
D) economic

Question

Quizplus · Accepted Answer

EOQ stands for Economic Order Quantity, which is a formula used in inventory management to determine the optimal order quantity that minimizes the total costs of inventory, including holding costs and ordering costs. It is most commonly applied in continuous inventory systems where the level of inventory is continuously monitored, and orders are placed at regular intervals to replenish stock as needed.

EOQ Is Used in A(n) ________ Inventory System