A student was overheard saying, "The EOQ model assumptions are so restrictive that the model would be hard to use in practice." Is it necessary to have a different model for each variation in assumptions? Why or why not?
Answer to relevant QuestionsWhat is the appropriate role of inventory turnover as a measure for evaluating the management of inventory? Under what circumstances is high turnover detrimental to a firm? What is the difference between a requirements philosophy and a replenishment philosophy of inventory management? Why is this difference important? The Suregrip Tire Company carries a certain type of tire with the following characteristics: Average annual sales = 600 tires Ordering cost = $40 per order Carrying cost = 25 percent per year Item cost = $50 per tire ...The Harvard Co-op orders sweatshirts with the Harvard University emblem on them and sells them for $50 each. During a typical month, 900 sweatshirts are sold (this includes all styles and sizes ordered from a particular ...Is it possible to control financial totals without physical control of materials in manufacturing?
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