Question: what is the economic order quantity EOQ model used for in operation managements? 1 st option to predict future sales based on historical data 2

what is the economic order quantity EOQ model used for in operation managements? 1st option to predict future sales based on historical data 2nd to calculate the total cost of a project 3rd option to determine the optimum quantity of inventory to produce or purchase 4th option to decide when to schedule maintenance for machinery which one will be most appropriate for EOQ model

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