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Production Order Quantity Model
An inventory management model that determines the optimal order quantity to minimize total inventory costs.
Inventory Reconciliation
The process of verifying that actual inventory matches recorded inventory, often involving adjustments for discrepancies.
Raw Material Inventory
Materials that are usually purchased but have yet to enter the manufacturing process.
Safety Stock Computation
The calculation of a buffer quantity of inventory kept on hand to prevent stockouts, based on variability in demand and supply.
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