Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Diderot
Lot Sizes
The quantity of units produced, purchased, or sold in a single operation or transaction, often optimized for efficiency in production and inventory management.
Product Changes
Modifications or improvements made to a product’s design, specifications, or features to enhance its performance, appeal, or compliance with regulations.
JIT Partnerships
Collaborations between suppliers and manufacturers that follow Just-In-Time inventory principles to reduce waste and increase efficiency.
Competitive Bidding
A procurement process where suppliers submit their bids to win a contract, based on price and/or other criteria.
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