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Nonparametric inferential statistics:
I.are used when the corresponding parametric procedure is inappropriate.
II.are preferred over parametric inferential statistics.
III.have very few assumptions.
Multiple Suppliers
A sourcing strategy where a company uses various suppliers to mitigate risks and ensure a steady supply of products or components.
Bullwhip Effect
The increasing fluctuation in orders that often occurs as orders move through the supply chain.
Orders Decrease
A situation where the number of orders for products or services is reducing, potentially impacting company revenue and production planning.
Unique-Event
A singular occurrence that is distinct in nature, not expected to repeat under normal circumstances.
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