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Inventory Management
The process of ordering, storing, and using a company's inventory, including raw materials, components, and finished products.
Predictable Variability
Variations or changes in processes or systems that can be forecasted with a degree of reliability based on historical data.
Demand
The amount of a product or service that customers are willing and able to purchase at a given price in a specific market context.
Subcontracting Cost
Expenses incurred when a company contracts out work to external suppliers or vendors.
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