Economic Order Quantity EOQ
[edit] Introduction
Economic Order Quantity (EOQ) is an inventory management method that describes the minimum amount of inventory an organisation must have available to optimise the size of orders and their associated costs. It is frequently used in operations, logistics and supply chain management.
This purchasing and inventory management formula was developed in 1913 by Ford W. Harris. Harris was an American production engineer who worked for Westinghouse Electric. His square root formula is based on an understanding that certain key factors (demand, ordering and inventory costs) remain constant. It is one of the oldest classical production scheduling models.
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
What it is and how to use it.
Investors in People: CIOB achieves gold
Reflecting a commitment to employees and members.
Scratching beneath the surface; a guide to selection.
ECA 2024 Apprentice of the Year Award
Entries open for submission until May 31.
UK gov apprenticeship funding from April 2024
Brief summary the policy paper updated in March.
For the World Autism Awareness Month of April.
70+ experts appointed to public sector fire safety framework
The Fire Safety (FS2) Framework from LHC Procurement.
Project and programme management codes of practice
CIOB publications for built environment professionals.
The ECA Industry Awards 2024 now open !
Recognising the best in the electrotechnical industry.
Sustainable development concepts decade by decade.
The regenerative structural engineer
A call for design that will repair the natural world.
Buildings that mimic the restorative aspects found in nature.
CIAT publishes Principal Designer Competency Framework
For those considering applying for registration as a PD.
BSRIA Building Reg's guidance: The second staircase
An overview focusing on aspects which most affect the building services industry.
Design codes and pattern books
Harmonious proportions and golden sections.
Introducing or next Guest Editor Arun Baybars
Practising architect and design panel review member.