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Economies of Scale
Answer intial Post word and then Respond to two peers dicussion listed below
Inventory Models
We know that EOQ and JIT are both important methods in Inventory Theory.
Please read this example on EOQ vs. JIT
https://michelbaudin.com/2015/02/23/eoq-versus-jit-explained-through-coffee-beans-and-raspberries/ and comments on the pros and cons of either approach. Then give one example in real world application for either
approach.
Peer 1 (SO)
In the recommended article, Baudin (2015) explains that Economic Order Quantity (EOQ) stipulates that as you increase the number of units for an order, you reach a point where the increase in inventory holding cost exceeds what you save in shipping costs. He used coffee beans as an example. I found an article in the International Journal of Scientific Advances that gave a real-world example of how the EOQ Approach is used in the pharmaceutical industry. The companies use EOQ and other methods to control Medicine supplies in sufficient quantities, at the time needed, and at the lowest cost (Almahdy et al., 2021). In other words, the EOQ calculation is carried out to “obtain optimal inventory.” If pharmaceutical companies buy too many products, they incur a higher cost to store inventory. However, they must maintain adequate stock to meet the needs of their customers. Companies also use other methods to make decisions.
For example, Baudin (2015) used raspberries to show that the cheapest way to enjoy perishable items is to buy them just before you eat them, in just the quantity you are going to eat, by using the just-in-time (JIT) approach. Baudin also explained that companies must decide which method works best for the items they offer and the nature of the items. I found another example

of the real-world approach to JIT in an article about building material supplies. Akintoye (1995) discussed how using JIT ensures that suppliers deliver directly to the production floor to lower or eliminate inventory and consequently reduce production costs. Construction companies save money by only buying supplies that are immediately needed.
Akintoye, A. (1995). Just-in-Time application and implementation for building material management. Construction Management and Economics, 13(2), 105–113. https://doi.org/10.1080/01446199500000013
Baudin, M. (2015, February 24). EOQ Versus JIT Explained Through Coffee Beans and Raspberries. Michel Baudin’s Blog. https://michelbaudin.com/2015/02/23/eoq-versus-jit-explained-through-coffee-beans-and-raspberries/
Peer 2(GB)
really like the example the article gives explaining EOQ vs JIT. In short the way I understand it is EOQ focuses on holding the right amount of inventory for the right amount of time to maximise cost savings where JIT focuses on holding the right amount of stock that continues to move from warehouse to consumer but focuses on less inventory in stock. EOQ is more of a marketing or financial strategy while JIT is dependent on the commitment of the workforce to continually move the product. In real world application I see the technology industry utilizing JIT more so than EOQ. If you look at Apple they develop and distribute a new phone every year. Holding inventory would not be economically efficient for Apple or other companies that continue in the technological world. With that said looking at companies like Verizon, they may choose EOQ vs JIT as some people choose later versions of the Apple phone vs the latest and greatest. It could be more beneficial to hold on to a larger inventory.