Example: tourism industry
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Unit 1 Introduction to Inventory Management
www.osou.ac.inUnder this method, ordering costs, carrying costs and total inventory costs according to different lot sizes are plotted on the graph. The intersection point at which the inventory carrying cost and the ordering cost meet, is the economic order quantity. At this point the total cost line is also minimum. Ordering Cost Total Inventory Cost
Methodology of Calculating Inventory Carrying Costs
www.remassoc.com3 REM Associates The Truth About Carrying Inventory! Over 65% of most companies do not compute inventory carrying costs, they use rough estimates