In order to simplify the model and by applying the principle of ceteris paribus once again, the maximum restocking level [Q.sub.max] is constant, thus the replenishment of the closing stocks of different periodical extents to the maximum stock level assumes a reorder quantity
[Q.sub.n] of a different extent  .
This equation for period T can be solved for the optimal values of price and reorder quantity
, given a particular value of op[s.sub.T].
An automatic parts reorder feature provides a current list of all parts due for reorder, shows relevant data for the part, and produces one requisition per supplier with default reorder quantity
For an item in inventory, the Inventory Control screen for that part shows the part number, category, description, crib location, machines (if any) currently using that part, cost, purchase order number, reorder quantity
, inventory quantity, and whether the item is currently on order or out for repair.
A one-bin system is essentially a reorder-point system in which a reorder quantity
is triggered each time.
First a little about Reorder Quantity
. This refers to the stock of a product in the inventory below.