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Linear Programming
A mathematical method used to determine the best possible outcome or solution from a given set of parameters or requirements, subject to certain constraints.
Aggregate Plan
An operational activity that involves translating annual and quarterly business plans into broad labor and output plans for the intermediate term of 3 to 18 months.
Material Cost
The total cost associated with the raw materials and components used in manufacturing a product.
Hourly Wage
A rate of pay based on the number of hours worked, distinct from salary pay which is fixed regardless of hours worked.
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