EOQ Calculator

This simple Economic Order Quantity (EOQ) calculator App can be used for computing the economic (optimal) quantity of goods or services a firm needs to order.This app is a helping tool for entrepreneurs.Also app is a study tool for students.So you just need to fill the fields and then calculate the EOQ Value.One has to know the EOQ Value and its importance.Economic Order Quantity is the ideal size of order that reduces the cost of holding adequate inventory and ordering costs to a minimum. This is one of the world's longest used classical models for production scheduling.

The Economic Order Quantity (EOQ) formula helps to avoid these mis-stocking situations. It calculates the ideal number of units you should order, such that the cost involved is minimal and number of units is optimal.

Economic Order Quantity may not consider all the factors that affect each business, but it is still a powerful tool to help an entrepreneur or manager to make more calculated decisions. What makes the EOQ a compelling tool is that it is dynamic and can be revisited from time to time as your business grows. If there's a change in any of your inventory costs, you can always tweak the formula and generate a new EOQ to suit the current conditions.

Calculating the EOQ for your business helps you find a good balance for your order and inventory costs, which are easy to overlook in day-to-day business. The EOQ formula shouldn't be taken as gospel, but it's a useful tool for informed, effective inventory control.

For Reference this formula is used as follows:
Economic Order Quantity (EOQ) = ( 2 × D × S / H ) 1/2