Examlex
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Inventory Ordering
The process of determining the optimal quantity and timing of orders for products or materials to meet demand while minimizing costs.
Production Order Quantity Model
An inventory management model that determines the optimal order quantity to minimize total inventory costs.
Inventory Reconciliation
The process of verifying that actual inventory matches recorded inventory, often involving adjustments for discrepancies.
Raw Material Inventory
Materials that are usually purchased but have yet to enter the manufacturing process.
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