Economic order quantity (EOQ) is the ideal quantity of units a company should purchase to meet demand while minimizing inventory costs such as holding costs, shortage costs, and order costs.
A tariff is a tax on imported goods and services to influence trade relations, generate revenue, or protect domestic industries.
At its core, industrial relations is about achieving a balance. It strives to create a workplace environment that fosters cooperation and productivity, while ensuring the fair treatment and well-being of employees.
