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Rapid-change Industries
Industries characterized by fast-paced innovation and technological advancements, requiring companies to quickly adapt to maintain competitiveness.
Inventory Holding Costs
encompass all expenses related to storing unsold goods, including warehousing, insurance, depreciation, opportunity cost, and spoilage, significant in inventory management decisions.
Pilferage
The theft of small quantities of goods, typically from an employer or a retail setting, often considered a form of inventory shrinkage.
Scrap
Material that is discarded or deemed as waste during the manufacturing process, often due to defects, excess, or irrelevance to the final product.
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