Examlex
Some companies shift the ordering responsibility to their suppliers in systems called vender-managed inventory (VMI).
Standard Deviation
Standard deviation measures the amount of variation or dispersion of a set of values, indicating how much they deviate from the average.
Safety Inventories
Stocks of products or materials kept on hand to protect against uncertainties in supply or demand.
Annual Holding Cost
The total cost incurred by holding inventory over a year, including storage, insurance, and opportunity costs.
UPS
United Parcel Service, a global shipping and logistics company known for its brown delivery trucks and comprehensive tracking system.
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