Inventory Control Manager Question:
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Tell us what makes a good forecasting model?


A good forecast model will have reasonable costs. the accuracy of its forecasts will allow good decision making. The model will have ample data available for its use and a relevant time span. The model finally will have a low interference level.

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How to determine the numbers to use in the EOQ formula?Explain me do I need to recompute stocking costs for the EOQ level?