Which mathematical model fundamentally transformed retail inventory management by introducing the concept of 'reorder point' based on demand variability?

In today's data-driven retail environment, mathematics plays a crucial role in analyzing customer behavior and optimizing sales strategies. Advanced statistical models, predictive algorithms, and machine learning techniques are transforming how retailers understand their business. This trivia question explores a significant mathematical concept that revolutionized retail data analytics and how stores make inventory decisions.

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Economic Order Quantity (EOQ) Model
Monte Carlo Simulation
Markov Chain Analysis
Principal Component Analysis