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Economic Order Quantity
A formula used in inventory management for determining the optimal order size that minimizes the total costs of holding and ordering inventory.
Inventory Management
The process of ordering, storing, and using a company's inventory, including raw materials, components, and finished products.
Inventory Levels
The quantity of goods and materials on hand at a particular time within a business, reflecting how well stock is being managed in relation to sales or production demand.
Restocking Costs
Expenses associated with replenishing inventory or stock levels in a business.
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