Examlex
What are the primary characteristics of bureaucracy? Is bureaucracy an efficient form of organization?
Safety Inventory
A stock buffer maintained to mitigate risk of stockouts due to demand variability and supply chain uncertainties.
Lead Time
The duration between the initiation and completion of a process, such as the time from placing an order to its delivery.
Standard Deviation
A measure of the dispersion or variability within a set of data points, indicating how much variation exists from the average.
ESC (Expected Shortage per Cycle)
The average amount of inventory shortage anticipated during a single replenishment cycle in inventory management.
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