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A global village can be best characterized as a business climate in which there are ________.
Carrying Cost
The total cost of holding inventory, including storage, insurance, depreciation, and opportunity costs.
Safety Stock
The additional quantity of inventory kept on hand to prevent stockouts caused by variability in demand or supply chain disruptions.
Lead Time
The duration between the initiation and completion of a production process or the time from ordering to delivery of a product.
Setup Cost
Expenses incurred to prepare or configure a process, machine, or system for production or operation.
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