Economic order quantity

... is the level of inventory that minimizes the total inventory holding costs and ordering costs. The framework used to determine this order quantity is also known as Wilson EOQ Model. The model was developed by F. W. Harris in 1913. But still R. H. Wilson is given credit for his early in-depth analysis of the model.

Underlying assumptions:
• The ordering cost is constant.
• The rate of demand is constant
• The lead time is fixed
• The purchase price of the item is constant i.e no discount is available
EOQ is the level of the inventory where ordering cost and carrying cost remains equal.

Something to do with the inventory costing in our system.

Quotes from Joel Osteen

• People respond when you tell them there is a great future in front of you, you can leave your past behind.
• Prospering just doesn't have to do with money.
• Prospering just doesn't have to do with money.
• When you focus on being a blessing, God makes sure that you are always blessed in abundance.
• You can change your world by changing your words... Remember, death and life are in the power of the tongue.

Want to read about Joel Osteen? Click here.

Skywatch #2

I was really busy at work last week. Didn't get to write anything about anything at work at all. Just an update, I'm going to Melbourne next week for two days to meet the customer for the first time. I'm not going alone - that I am happy.

Since, this weeks skywatch has sort of beach theme, I'll post one of the old photos I got when we dash to the beach from my in-laws place.

More skywatchers here.

Pool

When it's really hot, we make short trips to the aquatic centre to have a quick dip. It's just a short 5 minutes drive from home. The place is nice, spacious and clean.