Examlex
Find the least common denominator.
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Accurate Lot Sizes
It involves determining the optimal quantity of a product to order or produce, balancing costs and meeting demand efficiently.
MRP
Materials Requirement Planning, a production planning, scheduling, and inventory control system used to manage manufacturing processes efficiently.
Safety Stock
Extra inventory held to guard against uncertainty in demand or supply, minimizing the risk of stockouts.
Projected On-Hand Inventory
An estimate of the amount of stock that will be physically available in inventory at any given time, factoring in current stock levels, incoming supply, and outgoing orders.
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