Inventory Control: EOQ Model

This lecture covers the basics of inventory management, including the EOQ model and its sensitivity to total cost. It explains the components of inventory decisions, such as cycle inventory and safety inventory, and discusses the relevance of costs in inventory systems. The lecture also delves into the characteristics of inventory systems, demand patterns, and various inventory models like the Newsvendor model. It concludes with insights on supply chain strategies and the importance of integrated decision-making in inventory control.