determine the formula of the economic order, Operation Management

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determine the formula of the economic order

Determine the formula of the Economic Order Quantity.

The formula for Economic Order Quantity (EOQ):

EOQ = √((2x C_O x D)/(C_H)

Here

D = Annual demand (units)

C_O = Fixed cost for every order placed

C_H = Cost of holding one unit into stock for one annum (it may comprise a cost of capital for money' tied up' within the value inventory).

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