Examlex
Identify and state the historical significance of the following:
-Hernán Cortés
Product Availability
The degree to which products are in stock and accessible to customers, influencing customer satisfaction and sales.
Product Fill Rate
A measure of a company's ability to meet customer demand from available stock, often expressed as a percentage of customer orders fulfilled from stock on hand.
Safety Inventory
A quantity of stock maintained in reserve to protect against uncertainties in demand or supply, ensuring that operations continue smoothly.
Lot Size
The quantity of goods considered to be a standard amount for buying or manufacturing, often determined by considering production efficiency and inventory holding costs.
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