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Scarcity applies to both the rich and the poor.
Excess Inventory
Inventory that exceeds the optimal level, often leading to additional storage costs and potential obsolescence.
Aggregate Plan
A strategic framework used in production and operations management to determine the necessary production levels, inventory, and workforce to meet anticipated demand.
Capacity
The maximum amount that something can contain or accomplish, such as production capability within a given period.
Aggregate Plan
A production planning method that aims to establish overall output levels and inventory policies over a medium-term horizon to meet forecasted demand.
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