What is 'lot size' in SAP IS-U-DM - Device Management?

lot size - Overview

• Component: IS-U-DM

• Component Name: Device Management

• Description: Number of devices in a sampling lot used in a sampling procedure.

lot size - Details

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  Key Concepts: 
  Lot size is a term used in SAP IS-U-DM Device Management to refer to the amount of a product that is produced or purchased in a single order. It is used to determine the optimal order quantity for a given product, and can be used to reduce costs associated with ordering and inventory management. 
  
  How to use it: 
  Lot size can be used to determine the optimal order quantity for a given product. This can be done by calculating the total cost associated with ordering and inventory management, and then dividing it by the cost of the product. The result is the optimal lot size for that product. 
  
  Tips & Tricks: 
  When determining the optimal lot size for a given product, it is important to consider factors such as lead time, storage costs, and demand fluctuations. Additionally, it is important to consider any discounts that may be available when ordering in bulk. 
  
  Related Information: 
  Lot size is closely related to other concepts such as inventory control, order quantity, and economic order quantity (EOQ). Additionally, lot size can be used in conjunction with other inventory management techniques such as Just-in-Time (JIT) and Kanban.