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Economic order quantity. Economic order quantity ( EOQ ), also known as financial purchase quantity or economic buying quantity, [citation needed] 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 gram (originally gramme; [1] SI unit symbol g) is a unit of mass in the International System of Units (SI) equal to one thousandth of a kilogram.. Originally defined as of 1795 as "the absolute weight of a volume of pure water equal to the cube of the hundredth part of a metre [1 cm 3], and at the temperature of melting ice", [2] the defining temperature (≈0 °C) was later changed to 4 ...
The equivalent weight of an element is the mass of a mole of the element divided by the element's usual valence. That is, in grams, the atomic weight of the element divided by the usual valence. [ 2] For example, the equivalent weight of oxygen is 16.0/2 = 8.0 grams. For acid–base reactions, the equivalent weight of an acid or base is the ...
The tonne (t) is an SI-compatible unit of mass equal to a megagram ( Mg ), or 10 3 kg. The unit is in common use for masses above about 10 3 kg and is often used with SI prefixes. For example, a gigagram ( Gg) or 10 9 g is 10 3 tonnes, commonly called a kilotonne .
The economic production quantity model (also known as the EPQ model) determines the quantity a company or retailer should order to minimize the total inventory costs by balancing the inventory holding cost and average fixed ordering cost. The EPQ model was developed and published by E. W. Taft, a statistical engineer working at Winchester ...
Parts-per notation is often used describing dilute solutions in chemistry, for instance, the relative abundance of dissolved minerals or pollutants in water. The quantity "1 ppm" can be used for a mass fraction if a water-borne pollutant is present at one-millionth of a gram per gram of sample solution. When working with aqueous solutions, it ...
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 ...
Material requirements planning. Material requirements planning ( MRP) is a production planning, scheduling, and inventory control system used to manage manufacturing processes. Most MRP systems are software -based, but it is possible to conduct MRP by hand as well. An MRP system is intended to simultaneously meet three objectives: