AccountingInventoryManufacturing Tips Inventory Costs – Types, Examples, and Tips to Manage Them Inventory costs make up a substantial part of any manufacturing or distribution company’s total expenses. But the purchase price is just the beginning—storage, handling, and opportunity costs add up fast. Getting a handle on these expenses directly impacts your bottom line, profit margins, and competitive position. By Steve Maurer, IME 18 min read
InventoryManufacturing TipsSupply Chain What Is Economic Order Quantity (EOQ) and the EOQ Formula? Economic order quantity is a supply chain management technique used to determine the optimal lot size per order. This is done in order to avoid stockouts and overstocking, thereby balancing inventory costs and opportunity costs. By Madis Kuuse 9 min read
