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Fixed Quantity Inventory
An inventory management system where stock levels are replenished to a set quantity at regular intervals or when reaching a minimum level.
Inventory Control Number
A unique identifier assigned to each item in inventory for the purpose of tracking and management.
Break-even Point
The point at which total costs and total revenue are equal, meaning a business neither makes a profit nor suffers a loss.
Economic Order Quantity
A formula used in operations management for determining the optimal order size that minimizes total inventory costs.
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