Examlex
Explain two broad approaches taken by organisations to applying knowledge management principles.
Optimal Cycle
The most efficient duration or sequence for a process or operation to minimize costs and maximize output.
Service Level
A measurement of the performance of a system, often used in supply chains to quantify the percentage of customer demands met without delay.
Overstocking Cost
Expenses incurred when a company holds more inventory than it can sell, including storage, insurance, and depreciation.
Quick Response
A strategy aimed at improving the efficiency of supply chains by rapidly reacting to changes in demand.
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