What are the techniques of inventory control?

What are the techniques of inventory control?


The techniques of inventory control are:

- Economic Order Quantity
- Fixation of Inventory Levels
- Maximum Level
- Minimum Level
- Average Level
- R e-order Level
- Da nger Level
Define Economic Order Quantity (EOQ)
Economic Order Quantity (EOQ) is the quantity which is fixed in such a way that the variable costs for managing the inventory can be minimized…
Define a.) Fixation of inventory levels b.) Maximum level
Fixation of inventory levels : Fixation of inventory levels facilitates easy maintenance and control of various materials in a proper way…
What is Overhead cost? What are the various ways to classify it?
Overhead Cost is the total of all indirect costs which includes indirect material cost, indirect labour cost, and indirect expenses…
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