What is the Economic Order Quantity (EOQ) in inventory management?

Gestão de Inventário

Quiz
•
Business
•
1st Grade
•
Hard
Chun NounNimol
Used 1+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The Economic Order Quantity (EOQ) is the ideal quantity of an item to be ordered at once to minimize the total costs of ordering and holding inventory.
The Economic Order Quantity (EOQ) is the random quantity of an item to be ordered at once
The Economic Order Quantity (EOQ) is the minimum quantity of an item to be ordered at once
The Economic Order Quantity (EOQ) is the maximum quantity of an item to be ordered at once
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the main benefits of implementing EOQ?
Maintenance of unchanged stock level
Increase in stock costs
Reduction of stock costs, stock level optimization, order costs minimization, and storage costs reduction.
Maximization of order costs
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the EOQ calculated?
EOQ = √((2 * D * S) / H)
EOQ = (D * S) / H
EOQ = D / (2 * S * H)
EOQ = √(D * S * H)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a quantity discount in inventory management?
A quantity discount in inventory management is an increase in the unit price of an item when a large quantity is purchased.
A quantity discount in inventory management is a promotion that is not related to the quantity purchased.
A quantity discount in inventory management is an additional fee charged for buying in large quantities.
A quantity discount in inventory management is a reduction in the unit price of an item when a large quantity is purchased, encouraging bulk purchasing.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the different types of quantity discounts?
Fixed value discount, variable percentage discount, regressive discount
Fixed quantity discount, fixed percentage discount, progressive discount
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the formula to calculate the price with quantity discount?
Discounted price = Original price + (Original price * (Discount / 100))
Discounted price = Original price / (Original price * (Discount / 100))
Discounted price = Original price * (Discount / 100)
Discounted price = Original price - (Original price * (Discount / 100))
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Why are quantity discounts important in inventory management?
Quantity discounts are important in inventory management because they decrease merchandise turnover
Quantity discounts are important in inventory management because they encourage the purchase of large volumes of products, help reduce excess inventory, increase merchandise turnover, and improve the company's financial liquidity.
Quantity discounts are important in inventory management because they cause product waste
Quantity discounts are important in inventory management because they increase excess inventory
Create a free account and access millions of resources
Similar Resources on Quizizz
15 questions
MARKET STRUCTURE ECON

Quiz
•
1st - 3rd Grade
10 questions
Accounting for Merchandise

Quiz
•
1st - 3rd Grade
10 questions
Innovation in LEMONADE

Quiz
•
1st - 3rd Grade
15 questions
Managerial Accounting Quiz

Quiz
•
1st Grade - University
10 questions
Management of financial results

Quiz
•
1st Grade
10 questions
DIGITAL MARKETING : Shopee, Lazada & Facebook QUIZ

Quiz
•
1st Grade - Professio...
15 questions
Tutorial 1 Microeconomics

Quiz
•
1st Grade
10 questions
PAS 2 Inventories

Quiz
•
1st Grade
Popular Resources on Quizizz
15 questions
Character Analysis

Quiz
•
4th Grade
17 questions
Chapter 12 - Doing the Right Thing

Quiz
•
9th - 12th Grade
10 questions
American Flag

Quiz
•
1st - 2nd Grade
20 questions
Reading Comprehension

Quiz
•
5th Grade
30 questions
Linear Inequalities

Quiz
•
9th - 12th Grade
20 questions
Types of Credit

Quiz
•
9th - 12th Grade
18 questions
Full S.T.E.A.M. Ahead Summer Academy Pre-Test 24-25

Quiz
•
5th Grade
14 questions
Misplaced and Dangling Modifiers

Quiz
•
6th - 8th Grade
Discover more resources for Business
10 questions
American Flag

Quiz
•
1st - 2nd Grade
10 questions
Identifying equations

Quiz
•
KG - University
25 questions
2.4A Add Subtract within 20 quickly: set 3

Quiz
•
1st - 3rd Grade
15 questions
Music 2016

Quiz
•
KG - 12th Grade
12 questions
Summer Trivia

Quiz
•
1st - 5th Grade
44 questions
logos

Quiz
•
KG - University
20 questions
Guess that Disney

Quiz
•
KG - 5th Grade
20 questions
Cartoon Characters!

Quiz
•
KG - 5th Grade