Examlex
________ is the ability to model the components of a system, to connect the inputs and outputs among those components into a sensible whole that reflects the structure and dynamics of the phenomenon observed.
Dependent Demand
Refers to the demand for components or raw materials that is driven by, and directly related to, the demand for the finished goods they contribute to.
Independent Demand
The need for a product or service that is not influenced by the demand for other products, often applied in inventory management and forecasting.
Inventory
The raw materials, work-in-process products, and finished goods considered to be part of a business's assets that are ready or will be ready for sale.
Inventory Carrying Cost
The total expenses associated with holding inventory, including storage, insurance, taxes, opportunity costs, and potential obsolescence.
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