Examlex
Changes in relative prices usually lead to increases in real income because prices have changed.
Carrying Cost
The total cost of holding inventory, including storage, handling, insurance, and opportunity costs, over a certain period of time.
Safety Stock
Additional inventory held to protect against variability in demand or supply, ensuring that stockouts are minimized and service levels are maintained.
Lead Time
The total period needed to fulfill an order from the moment it is placed until it is delivered to the customer.
Safety Stock
Extra inventory kept to guard against shortages due to fluctuations in demand or supply.
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