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Economic order quantity (EOQ) concerns the most cost-efficient method of ordering stock. The objective is to find the order quantity that minimizes the total inventory holding costs and ordering costs.
For a more detailed explanation and guide to EOQ, read our Economic Order Quantity (EOQ) Guide.
EOQ guideThe EOQ formula is also known as the Wilson formula.
The Economic Order Quantity (EOQ) is the square root of ((2 x Demand per year x cost per order)/cost of holding per unit of inventory).
The economic order quantity formula is a relatively simple way to calculate your reorder points. To overcome the model’s limitations, EazyStock provides a solution that makes calculations based on a range of variables, making it more reliable.
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