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Identify the three activities in project identification and selection.Describe at least one step in each activity.
Lost Sales
The potential revenue that a company misses out on due to being out of stock, having insufficient capacity, or other reasons for not fulfilling customer demand.
Quantity Discounts
Price reductions applied to bulk purchases, incentivizing buyers to increase the volume of their purchase.
Annual Carrying Costs
The total expenses associated with holding or storing inventory over a year, including costs related to storage, insurance, and obsolescence.
Ordering Costs
Expenses associated with making an order for goods or services, including administrative costs, shipping charges, and time spent on ordering processes.
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