Glossary

Economic order quantity (EOQ) formula

Written by Hook Webmaster | Jan 31, 2023 12:02:39 PM

What is Economic order quantity (EOQ)?

Economic order quantity (EOQ) is the optimum number of products that a business should purchase in order to minimize holding and ordering costs. Knowing the EOQ  can help businesses save a significant amount of money through cost optimization. Economic order quantity is sometimes known as Economic purchase quantity.

Examples of Economic order quantity (EOQ)

Your EOQ is the optimum number of products you should purchase to minimize the total cost of ordering or holding stock. Figuring out your EOQ can potentially save you a significant amount of money.

Table/Chart

Your EOQ is the optimum number of products you should purchase to minimize the total cost of ordering or holding stock. Figuring out your EOQ can potentially save you a significant amount of money.

What is Economic order quantity (EOQ)?

Your EOQ is the optimum number of products you should purchase to minimize the total cost of ordering or holding stock. Figuring out your EOQ can potentially save you a significant amount of money.