Examlex
How can expert systems be used by salespeople?
Carrying Cost
Expenses associated with holding or storing inventory over a period, including warehousing, insurance, depreciation, and opportunity costs.
Safety Stock
An additional quantity of an item held in the inventory to reduce the risk that the item will be out of stock.
Lead Time
The amount of time that elapses between the initiation and completion of a process.
Economic Production Quantity
A model that determines the optimal quantity of a product to produce, minimizing total holding and setup costs.
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