Business Terms and Jargon Explained

What is Order Optimisation

This terms is used to find the best order level or the economic order level. When a business needs supplies, it should order the right amount of materials at the right time. This will reduce cost and wastage. There are many formulas that can be used to get to the best order level. This can involve the whole ordering process from start to finish, form how to decide what is needed, to the ordering and the accounting. Many different types of orders may be needed and this is where it gets more complex in decided on the best order optimisation.

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Term created / updated 2006-11-09 14:37:28

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