The EOQ approach takes the view that no inventory is necessary and can be acquired as needed.

Name: The EOQ approach takes the view that no inventory is necessary and can be acquired as needed.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The Economic Order Quantity (EOQ) approach aims to determine the optimal order size that minimizes the total inventory costs, including ordering and holding costs, not to eliminate inventory entirely.

The EOQ Approach Takes the View That No Inventory Is