Which of the following is correct about the "Reorder Point"?

It is the level of inventory when an order should be made with suppliers to bring the inventory up by the Economic order quantity ("EOQ") It is the level of inventory when an order should be made with suppliers so as to minimise inventory costs. It is the minimum level of inventory at a particular point of time. None of the above

It is the level of inventory when an order should be made with suppliers to bring the inventory up by the Economic order quantity ("EOQ")

Recorder point: The reorder point ("ROP") is the level of inventory when an order should be made with suppliers to bring the inventory up by the Economic order quantity ("EOQ").