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Replenishment Lot Size
The quantity of stock ordered to replenish inventory, balancing order costs with storage costs.
Cycle Inventory
The portion of inventory that a company cycles through to fulfill its regular sales orders.
Indirect Materials
Materials used in the production process that do not become part of the final product, such as lubricants and cleaning supplies.
Transaction Cost
The expenses incurred when buying or selling goods or services, including fees, communication charges, and other financial costs.
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