Which inventory model balances ordering cost and carrying cost to find the lowest total cost?

The Fixed-interval model focuses on placing orders at regular time intervals, regardless of the inventory level. While it simplifies the ordering process, it does not specifically aim to minimize the total costs associated with ordering and carrying inventory, making it less efficient than EOQ for cost optimization.

The Economic Production Quantity (EPQ) model is similar to EOQ but applies to scenarios where inventory is produced and consumed simultaneously. While it also seeks to minimize costs, it specifically addresses production settings rather than the general inventory management context of EOQ, which balances ordering and holding costs.

The Quantity-discount model considers price reductions based on the volume of inventory purchased, which can lead to lower purchasing costs but does not inherently balance ordering and carrying costs. It may result in higher holding costs if large quantities are ordered to take advantage of discounts, thus not necessarily achieving the lowest total cost like EOQ does.