Question: Explore the application of the EOQ model and the concept of safety inventory in two different industries ( e . g . , retail and

Explore the application of the EOQ model and the concept of safety inventory in two different industries

(

.

.,

retail and manufacturing

) .

Describe how each industry uses EOQ to manage their inventory and explain the role of safety inventory in each industry, how it is determined, and its importance in mitigating risks associated with demand variability and lead times. Provide examples of companies in each industry and explain how EOQ and safety inventory help them achieve their inventory management goals.

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