Which mathematical model, developed in the 1910s, revolutionized retail inventory management by determining the optimal order quantity that minimizes total inventory costs?

Retail analytics has evolved dramatically with mathematical modeling and algorithms. Before modern AI systems revolutionized the field, one particular mathematical technique changed how retailers approached inventory management by introducing a statistical formula that balanced holding costs against ordering costs. This breakthrough transformed supply chain optimization and remains foundational in modern retail mathematics.

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Economic Order Quantity (EOQ) Model by Ford W. Harris
Just-In-Time (JIT) Inventory System by Taiichi Ohno
Material Requirements Planning (MRP) by Joseph Orlicky
Newsvendor Model by Edgeworth-Wilson