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Talk about: William Pitt
Total Ordering Costs
The sum of all expenses involved in placing an order, including logistic, administrative, and product costs.
Holding Costs
Expenses incurred from maintaining and storing inventory, such as warehousing costs, insurance, and deterioration losses.
Inventory Quantity
The total number of units of a specific product or category of products that are held in stock by a business at a given time.
Lot
A distinct batch or quantity of material bought or sold, often considered as a single unit in stock trading or production.
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