UESTION 13 Which of the following is an example of using EOQ:
a. Purchasing at strategic vendors with close partnerships in the innovation space
b. Ordering from one vendor at high volumes, instead of several vendors at low volumes
c. Ordering several times a year from the same vendor instead of once a year.
d. None of the above
Expert Answer
option c is the correct answer
Concept of EOQ is avoiding excess quantity while ordering , so that inventory cost is minimised.