Examlex
The general rule for special order decisions is being at least as well off after the decision as before it.
Reorder Points
The inventory level at which an order must be placed to replenish stock before it runs out, ensuring optimal inventory levels.
Inventory Costs
Costs associated with holding and managing inventory, including storage costs, insurance, depreciation, and potential obsolescence, crucial for supply chain and operations management.
Safety Reserves
Financial or physical assets kept on hand as a precautionary measure to cover unexpected expenses or emergencies.
Shortage Cost
The cost incurred from the inability to satisfy demand for a product or service due to insufficient resources or supply.
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