The economic ordering quantity (EOQ) refers to the ideal order quantity a company should purchase in order to minimize its inventory costs, whereas the eonomic ordering point (EOP) refers to the point at which inventory should be re-ordered.

Laboratory Information Management System is a computer software that processes, stores and manages data from patient medical processes and tests. Providers and laboratory professionals use laboratory information systems to coordinate the workflow and quality control of inpatient and outpatient medical testing, including hematology, chemistry,…[Read more]