Quality assurance can be defined as “part of quality management focused on providing confidence that quality requirements will be fulfilled.”
Quality control can be defined as “part of quality management focused on fulfilling quality requirements.”

https://asq.org/quality-resources/quality-assurance-vs-control

Quality is a distinctive attribute or characteristic that someone or something possess

EOP (Economic Ordering Point) is the point at which the inventory should be re-odered

EOQ (Economic Ordering Quantity) determines the amount of inventory to be ordered at one time

‘Material management is an important part of supply chain management. It involves setting up and running supply chains to meet a company’s or organization’s material needs. This includes controlling and regulating the flow of material while considering factors such as demand, price, availability, quality and delivery sch…[Read more]