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Economic Order Quantity (EOQ) is a fundamental concept in supply chain management, particularly in retail business, which helps in determining the optimal order quantity that minimizes the total inventory costs. These costs generally include ordering costs, holding costs, and sometimes shortage costs. In retail, EOQ assists managers in balancing the cost of purchasing goods with the cost of storing them, ensuring that inventory levels are adequate _____ ________ __________ _____ ________ ______ ____.
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