Examlex
In arbitration, it is agreed in advance that the key parties involved will agree to the recommendations of an independent third-party arbitrator.
Overhauled
Describes a comprehensive inspection, dismantling, and reassembly of equipment or a system, often to restore it to optimal working condition.
New System
A term referring to the introduction or implementation of a novel set of procedures, technologies, or methodologies in an organizational setting.
Discount Rate
The interest rate used to discount future cash flows to their present value, often reflecting the riskiness of the investment or the cost of capital.
Total Cost Approach
A method in supply chain management that considers all costs associated with acquiring, transporting, and holding goods alongside their purchase price.
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