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Economic Order Quantity (EOQ) is an important inventory management model used in Operations Management to determine the optimum quantity of inventory that an organization should order at one time. The main objective of the EOQ model is to minimize the total inventory cost while ensuring that sufficient materials are available for production and operations. It helps managers balance ordering costs and carrying or holding costs. The EOQ model is based on the principle that inventory costs are influenced mainly by two opposing factors. If an organization places orders ____ __________ ________ ______ _________ __________ _______ _______.
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