What does EOQ mean in Accounting?
This page is about the meanings of the acronym/abbreviation/shorthand EOQ in the Business field in general and in the Accounting terminology in particular.
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Definition
What does EOQ mean?
- Economic order quantity
- In inventory management, economic order quantity (EOQ) is the order quantity that minimizes the total holding costs and ordering costs. It is one of the oldest classical production scheduling models. The model was developed by Ford W. Harris in 1913, but R. H. Wilson, a consultant who applied it extensively, and K. Andler are given credit for their in-depth analysis.
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"EOQ." Abbreviations.com. STANDS4 LLC, 2024. Web. 25 Apr. 2024. <https://www.abbreviations.com/term/48646>.
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