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Bureaucracies with decentralized decision making and multiple lines of communication tend to have more satisfied workers, happier clients, and larger profits.
Product Families
Groups of related products that are offered by a business, often sharing common components or targeting similar markets.
Safety Inventory
A buffer of additional stock kept to prevent out-of-stock situations, taking into account unforeseen fluctuations in demand or supply.
Forecast Error
The difference between the actual demand or outcome and the predicted demand or forecasted value, often analyzed for improving future predictions.
Aggregate Planning
A process in operations management aimed at determining optimal production levels, inventory, and workforce to meet anticipated demand.
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