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Raw Materials Purchased
The cost of raw inputs bought for the production of goods, including commodities like steel, cotton, or plastic.
Average Raw Materials Inventory
A measure of the average amount of raw materials on hand over a certain period, indicating how efficiently a company manages its stock of raw supplies.
Total Quality Management
An organization-wide approach to continuously improving the quality of products, services, and processes by focusing on customer satisfaction.
Inventory
The total amount of goods or materials held by a company for the purpose of resale or production.
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