Examlex
Despite the fact that the average monthly temperature never rises above freezing, a variety of plant types are able to survive in a polar ice cap climate.
Standard Deviation
A measure of the dispersion or variability within a set of data points, indicating how much variation exists from the average.
ESC (Expected Shortage per Cycle)
The average amount of inventory shortage anticipated during a single replenishment cycle in inventory management.
Lot Size
The quantity of items that are processed, manufactured, or purchased at one time.
Reorder Point
The inventory level at which a new order should be placed to replenish stock before it runs out, considering lead times.
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