Which mathematical inventory management model, developed in the 1930s, revolutionized retail operations by optimizing order quantities to minimize total inventory costs?

The application of mathematics in retail inventory management has transformed how businesses operate. Advanced algorithms and statistical models now drive decisions that were once based purely on intuition. This poll tests your knowledge about a groundbreaking mathematical inventory model that revolutionized retail operations and continues to influence modern machine learning approaches in retail inventory forecasting.

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Economic Order Quantity (EOQ) model
Markov Decision Process (MDP)
Monte Carlo Simulation
Bayesian Probability Network