Examlex
When specifying datum targets on a drawing, explain why the datum targets may indicate fixed or movable datum feature simulators.
EOQ Lot Sizing
A formula designed to determine the optimal order quantity that minimizes the total cost of inventory, including holding and ordering costs.
Setup Cost
The expenses incurred to prepare equipment, machinery, or processes for manufacturing a new product batch, including the adjustment of tools and configuration changes.
Inventory Holding Cost
The total costs related to storing and maintaining a company's inventory over a certain period.
Production Plan
A detailed outline of what a company needs to produce, how much, and by when to meet customer demand.
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