1- How production EOQ is different from Simple EOQ model? also, how do we know ifa problem in the quiz is a production EOQ model and not a EOQ model?

2-Can you give an every day example of production EOQ?

3- How the periodic inventory system is different from continuous inventory system?

4- Which should cost less: a periodic inventory system or a continuous inventory system (liek EOQ)? Why? Can you demonstrate using an example?

5-Discuss the characteristics of a newsvendor model and provide familiar examplesof newsvendor model.

6- Whenare you ordering more than average demand and when are you ordering less than average demand in a newsvendor model? (discuss it in terms of related costs)

Answer rating: 100% (QA)

1 Production EOQ vs Simple EOQ model The Production Economic Order Quantity EOQ model differs from the Simple EOQ model in that it considers both orde... View the full answer