Which mathematical inventory management model, developed in 1913, calculates the optimal order quantity by balancing holding costs and ordering costs, and is now standard in retail mathematics?

The retail industry has embraced mathematics in countless ways, from inventory optimization to store layout design. Behind many successful retail operations are sophisticated mathematical models that help predict consumer behavior, optimize pricing strategies, and manage complex supply chains. This trivia question explores how a specific mathematical concept revolutionized retail inventory management and became an industry standard practice.

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Economic Order Quantity (EOQ) Model
Markov Chain Inventory System
Poisson Distribution Stock Control
Fibonacci Sequence Replenishment Model