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]

A Laboratory Information Management System (LIMS) refers to a software programmed for the efficient management of samples and associated data. Its functions include workflow improvement through the automation of the laboratory, specimen tracking, data entry and reporting, assistance with regulatory compliance, code capture, interfacing with other…[Read more]