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What is Techniques for Material Cost Control about?

The document discusses techniques for material cost control, including setting reorder levels, minimum levels, maximum levels, and danger levels. It provides formulas for calculating reorder levels based on minimum levels, consumption, and lead times. Economic order quantity is the quantity that minimizes total costs of carrying and ordering stock, which includes acquisition costs, ordering costs, and carrying costs like storage space, deterioration prevention, and opportunity costs. Illustrative examples a

Author

Rogin Erica Adolfo

Language

EN