Compare and contrast eoq and epq inventory control models, Operation Management

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Compare and contrast eoq and epq inventory control models

1. Compare and contrast EOQ and EPQ inventory control models. Provide details of assumptions of each model and advantages and disadvantages of each. If a firm converts to EPQ, would its order quantity (Q) be less or more? Explain

2. Describe inventory holding costs and order (set-up) costs and discuss the trade-off between them. (ii) Describe the A-B-C Classification approach and its advantages and disadvantages.

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Operation Management: Compare and contrast eoq and epq inventory control models

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