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philosophies underlying JIT and EOQ approaches to inventory

Explain the differences in the basic philosophies underlying JIT and EOQ approaches to inventory management.

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Just in time says wait until you need the item before you buy it. So, the adopters of this method would not be concerned that ordering costs and ordering intervals would be optimal. They are more interested in being lean, not carrying ...

Solution Summary

Your tutorial is 154 words and explains how JIT and EOQ optimize completely different things.

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