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Course Description

Obsolescence and expiration are less of a concern with long life cycle products, such as books and bicycles, than with short life cycle products. Yet there are costs associated with obtaining and storing inventory. If you place orders too frequently, you risk spending too much time and money on negotiation and shipping. Buying more product but doing so less frequently, on the other hand, may result in significant carrying costs. How, then, can you balance carrying costs and maintain “just enough” inventory? In this lesson, you'll explore the unique problems associated with long life cycle products and investigate the EOQ model to help you determine optimal inventory practices. For the best experience, complete this lesson after taking "Inventory Management Analysis: Determine Service Levels and Product Type."

Benefits to the Learner

  • Explore the unique problems associated with long life cycle products
  • Investigate the EOQ model
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Type
self-paced (non-instructor led)
Dates
Feb 03, 2022 to Dec 31, 2030
Total Number of Hours
1.0
Course Fee(s)
Regular Price $0.00
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