Examlex
Explain the difference between an x-bar chart and a R-chart.
Responsiveness
The ability of a company, system, or process to quickly react to changes or customer needs.
Cost Savings
The practice of reducing expenses to improve profitability without compromising the quality or performance of goods and services.
Materials Requirement Plan (MRP)
A system for calculating the materials and components needed to manufacture a product, ensuring the right materials are available for production at the right time.
Independent Demand Items
Products for which demand is not influenced by the demand for other products, typically finished goods or spare parts.
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