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It is unethical to use your lawyer as an excuse for a provision of a contract,such as,"My lawyer insists that I have a liquidated damages clause..."
Holding Cost
The expenses associated with storing unsold goods, including warehousing, insurance, deterioration, and loss.
Material Cost
The expense associated with raw materials and components needed for producing a product.
Average Flow Time
The average time that units spend in a production system, from arrival to departure, indicating the efficiency of the process.
Cycle Inventory
Inventory that is held to facilitate the smooth operation of a production cycle, compensating for lead times and production schedules.
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