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Cognitive Development

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Cognitive Development


Definitions:

Economies of Scale

The cost advantage achieved by an increase in production, leading to a decrease in the cost per unit.

Inbound Transportation Costs

Expenses associated with moving goods from suppliers to a company, including freight, shipping, and handling fees.

Milk Runs

A delivery method in which a single vehicle collects goods from several suppliers in a single trip, improving efficiency and reducing transportation costs.

Supplier

A business or individual that provides goods or services to another entity, playing a crucial role in the supply chain.

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