Examlex
The present value of a future sum is the amount of money today that would be needed, at prevailing interest rates, to produce that future sum.
Holding Cost
The total expense associated with storing unsold goods or inventory over a period, including warehousing, insurance, depreciation, and opportunity costs.
Understocking
A situation where inventory levels are too low, leading to potential lost sales and dissatisfaction among customers.
Customer Service Level
A measure of the quality of service provided to customers, often reflecting the ability to meet customer needs and resolve issues.
Stockout
A situation that occurs when an item is not in stock and unavailable for sale or use, often leading to lost sales or customer dissatisfaction.
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