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2.JIT/EOQ/ROP Interrelationships

Author:
February 20th, 2023

The just-in-time (JIT) movement has long argued that firms should a. Maximize their process flexibility so that ordering costs are minimal; b. Stabilize demand levels; c. Shrink lead times as much as possible; and d. Assign much higher holding costs to inventory than has traditionally been the case.Using the economic order quantity (EOQ) and reorder point (ROP) formulas, explain how such efforts would be consistent with JIT’s push for lower inventory levelsMinimum 150 word, assignment due 11:00pm est 26 March 2014

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