Economic Batch Quantity

picture info	Economic Batch Quantity In inventory management, Economic Batch Quantity (EBQ), also known as Optimum Batch Quantity (OBQ) is a measure used to determine the quantity of units that can be produced at the minimum average costs in a given batch or product run. EBQ is basically a refinement of the economic order quantity (EOQ) model to take into account circumstances in which the goods are produced in batches. The goal of calculating EBQ is that the product is produced in the required quantity and required quality at the lowest cost. The EOQ 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. Aggterleky described the optimal planning planes and the meaning of under and over planning, and the influence of the reduction of total cost. Wiendahl used Harris and Andler’s equation for the determination of the optimal quantity. Härdler took into account the costs of storage and delivery in determining ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Inventory Management Field inventory management commonly known as inventory management is the function of understanding the stock mix of a company and the different demands on that stock. The demands are influenced by both external and internal factors and are balanced by the creation of purchase order requests to keep supplies at a reasonable or prescribed level. Inventory management is important for every other business enterprise. Retail supply chain Inventory management in the retail supply chain follows the following sequence: # Request for new stock from stores to head office, # Head office issues purchase orders to the vendor, # Vendor ships the goods, # Warehouse receives the goods, # Warehouse stores and distributes to the stores, # Shops and/or consumers (e.g. wholesale shops) receive the goods, # Goods are sold to customers at the shops. Software applications SaaS inventory management software is a tool to help efficiently manage stock. While the capabilities of applications vary, most i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Economic Order Quantity Economic Order Quantity (EOQ), also known as Economic Buying Quantity (EPQ), is the order quantity that minimizes the total holding costs and ordering costs in inventory management. 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. Overview EOQ applies only when demand for a product is constant over the year and each new order is delivered in full when inventory reaches zero. There is a fixed cost for each order placed, regardless of the number of units ordered; an order is assumed to contain only 1 unit. There is also a cost for each unit held in storage, commonly known as holding cost, sometimes expressed as a percentage of the purchase cost of the item. While the EOQ formulation is straightforward there are factors such as transportation rates and quantity discounts to consider in actual applicatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
picture info	Batch Processing Computerized batch processing is a method of running software programs called jobs in batches automatically. While users are required to submit the jobs, no other interaction by the user is required to process the batch. Batches may automatically be run at scheduled times as well as being run contingent on the availability of computer resources. History The term "batch processing" originates in the traditional classification of methods of production as job production (one-off production), batch production (production of a "batch" of multiple items at once, one stage at a time), and flow production (mass production, all stages in process at once). Early history Early computers were capable of running only one program at a time. Each user had sole control of the machine for a scheduled period of time. They would arrive at the computer with program and data, often on punched paper cards and magnetic or paper tape, and would load their program, run and debug it, and carry off their ou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Ford W Ford commonly refers to: * Ford Motor Company, an automobile manufacturer founded by Henry Ford * Ford (crossing), a shallow crossing on a river Ford may also refer to: Ford Motor Company * Henry Ford, founder of the Ford Motor Company * Ford Foundation, established by Henry and Edsel * Ford Australia * Ford Brasil * Changan Ford * Ford Motor Company of Canada, Canadian subsidiary * Ford of Britain * Ford of Europe, the successor of British, German and Irish subsidiaries * Ford Germany * Ford Lio Ho * Ford New Zealand * Ford Motor Company Philippines * Ford Romania * Ford SAF, the French subsidiary between 1916 and 1954 * Ford Motor Company of South Africa * Fordson, the tractor and truck manufacturing arm of the Ford Motor Company * Ford Vietnam * Ford World Rally Team (aka Ford Motor Co. Team prior to 2005), Ford Motor Company's full factory World Rally Championship team (1978–2012) * Ford Performance * Henry Ford & Son Ltd, Ireland * List of Ford vehicles, models referred to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	EBQ Cost - Batch Size Chart EBQ may refer to: * Economic batch quantity. * The economic batch quantity model, or production lot size model is similar to EOQ model in that an optimum number is to be calculated for the batch quantity to be produced. * EBq (exabecquerel), a multiple of Becquerel The becquerel (; symbol: Bq) is the unit of radioactivity in the International System of Units (SI). One becquerel is defined as the activity of a quantity of radioactive material in which one nucleus decays per second. For applications relatin ... , a unit of radioactivity {{disambig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Economic Order Quantity Economic Order Quantity (EOQ), also known as Economic Buying Quantity (EPQ), is the order quantity that minimizes the total holding costs and ordering costs in inventory management. 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. Overview EOQ applies only when demand for a product is constant over the year and each new order is delivered in full when inventory reaches zero. There is a fixed cost for each order placed, regardless of the number of units ordered; an order is assumed to contain only 1 unit. There is also a cost for each unit held in storage, commonly known as holding cost, sometimes expressed as a percentage of the purchase cost of the item. While the EOQ formulation is straightforward there are factors such as transportation rates and quantity discounts to consider in actual applicatio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Inventory Control Inventory control or stock control can be broadly defined as "the activity of checking a shop's stock". It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business's inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction. Other facets of inventory control include forecasting future demand, supply chain management, production control, financial flexibility, purchasing data, loss prevention and turnover, and customer satisfaction. An extension of inventory control is the inventory control system. This may come in the form of a technological system and its programmed software used for managing various aspects of inventory problems, or it may refer to a methodology (which may include the use of technological barriers) for handling loss preve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]