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Inventory Carrying Cost
The total costs associated with holding and storing unsold goods, including warehousing, insurance, depreciation, and opportunity costs.
Production Setup
The process of preparing and arranging resources and equipment to begin a manufacturing operation.
ABC Analysis
An inventory categorization technique that divides items into three categories (A, B, and C) based on their importance and value to the organization.
Annual Demand
The total quantity of a product or service that is expected to be sold or required over the course of a year.
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