Economic Order Quantity (EOQ) refers to the amount of product a company should order to meet the supply and demand while minimizing its cost to order and hold. However, Economic Order Point (EOP) is the point where a company should re-order certain products.

The process involves overseeing the acquisition and use of supplies, including purchasing/requisitioning and oversight of product arrivals to ensure availability and cost-effectiveness.

https://www.studocu.com/ph/document/central-philippine-university/bs-in-medical-laboratory-science/lab-management-chapter-8/11375379

hope the class is fun ^^ (sana worth it ang 7am 😭😭)