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Describe the three pillars of managing organizations.
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.
FedEx
A US-based global delivery services corporation recognized for its rapid overnight delivery capabilities and for developing a tracking system that offers immediate updates on the whereabouts of packages.
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