Skip to main content

Limitations of Economic Order Quantity

By

 There are a number of assumptions associated with Economic Order Quantity (EOQ) which makes them the limitations of EOQ. They are:

  • The Total Ordering Cost has to be constant throughout the period.
  • The Quantity is ordered in a single batch.
  • There is no provision of any sort of discount.
  • The ordered quantity is assumed to be known with exact certainty.
  • Inventory Cost remains constant throughout the period.
  • Ordered Quantity is received on time and there is no lead time.

 

Labels

Labels:

Comments

Post a Comment

Suggestions for new topics are most welcome. Do let me know.

Popular posts from this blog

Technology replacing teachers advantages and disadvantages

By
Technology replacing teachers: Advantages and Disadvantages In modern day world, technology is a word that we start our day with. Be it any sphere of life, technology has conquered it all. With new advancements and modern techniques, technology has engulfed our education system and is replacing teachers with robot tutors, classrooms with satellite classes, and interactive sessions with online learning platforms. The advantages of technology replacing teachers  is that each student now have access to education. Gone are the days when students from remote areas had to travel miles to attend classes. Thanks to the advancement in technology students now have access to study material which can be read anytime as per his/her convenience. Every student has a different learning pace, when in class, a teacher cannot individually mentor each student and might overlook small errors made by students. However, this is not the case with robot tutors. There are various cloud apps and...
11 comments
Read more

Use of technology in teaching

By
Use of technology in teaching Technology has been an inseparable part of our life nowadays. Technology has made our life easy and changed our perception about various things. It has greatly aided the teaching-learning process and aided to the education system. However, just like the two sides of a coin, the adverse effects of technology cannot be ignored.  Let’s first take into account technology as a boon . Gone are  the days when everything would have to be printed be it books, assignments, notes etc. Thanks to the advancement in technology, we can now get everything is digital format. This not leads to cost-cutting but is also an environment friendly process. A teacher who needs to grade the student’s performance, can do so trouble-free and in a much quicker manner by the maintaining the record in his PC or laptop. The involvement of social media has also greatly aided to the teaching-learning process. All the teacher needs to do is to teach a class-lesson and put the...
Post a Comment
Read more

Pros and Cons of Artificial Intelligence

By
Advances in limiting and speeding up computer storage have uncovered new avenues for research and implementation of artificial intelligence such as helping scientific research and creating new pathways in medicine for diagnosing diseases and patients, robotic surgery and drug development. Many of these innovations are associated with advanced technologies based on the emergence of Artificial Intelligence (AI). Artificial intelligence is the display of human intelligence or the actions of non-human machines or entities through programming, in addition to software services that mimic human features such as troubleshooting. This forces machines to perform activities that previously required human intervention, such as surgery or space exploration. Things like entering data from paper invoices or reading contracts are no longer needed thanks to machine learning and natural language processing. AI can be used at any time with the same efficiency and with the same focus, unlike human a...
Post a Comment
Read more