Examlex
What two fields of study did the scientist Robert MacArthur combine?
ABC Analysis
A method for classifying inventory or items into three categories (A, B, and C) based on their importance, usually determined by value or usage rate.
Inventory Savings
Reductions in costs achieved through efficient management of stock, including ordering, storing, and using goods or materials.
Economic Order Quantity
A calculation that determines the optimal order quantity that minimizes total inventory costs, including holding, ordering, and shortage costs.
Safety Stock
An extra quantity of inventory kept on hand to prevent stockouts caused by unpredictable demand or supply delays.
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