Logo for the Applied Logic Lab featuring a stylized outline of a human head with a circuit board pattern and gear, alongside the text 'APPLIED LOGIC LAB' in blue and purple.

Inventory Management (EOQ)

  • Course Code: OPS-213

  • Format: In-Person / Virtual

  • Description: How much should you order? This course applies the Economic Order Quantity (EOQ) model to answer that question scientifically. Participants calculate the optimal order size that balances the conflict between Holding Costs and Ordering Costs.

  • Learning Objectives:

  • Minimize total inventory costs while maintaining service levels.

  • Calculate optimal order size balancing Holding Costs vs. Ordering Costs.

  • Apply the EOQ formula to purchasing decisions.

  • Scholar-Practitioner Framework:

  • Theory: Economic Order Quantity.

  • Application: EOQ Calculation Lab.

  • Curriculum: Carrying Costs; Ordering Costs; Reorder Points.