Examlex
Deciding how to make the best use of limited resources to satisfy virtually unlimited wants is known in economics as
Fill Rate
The percentage of customer demand that is met without backorders or delays, indicating the efficiency of inventory management.
Forecast Uncertainty
The degree of unpredictability in predicting future events, often related to demand, supply, or other market factors.
Customer Demand Data
Customer demand data encompasses information about customer preferences, purchase history, and demand forecasts that inform production and stocking decisions.
Manufacturer-Driven Substitution
A process where manufacturers suggest or implement alternative products or components to fulfill customer needs, often due to supply constraints or to offer a better value.
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