what is economic order quantity eoq 
economic order quantity eoq is the ideal quantity of units a company should purchase to meet demand while minimizing inventory costs such as holding costs shortage costs and order costs this production scheduling model was developed in 1913 by ford w harris and has been refined over time the economic order quantity formula assumes that demand ordering and holding costs all remain constant investopedia jessica olahformula for economic order quantity eoq the formula for eoq is 