Examlex
Name the three types of analytical procedures and provide a definition and example for each.
Excess Capacity
A situation in which a company can produce more goods or services than the market demands, often leading to idle resources or reduced production rates.
Efficient
The quality of achieving maximum productivity with minimum wasted effort or expense.
Cycle Inventory
Inventory that is held to manage the normal fluctuation of production or supply and demand, rotating through cycles of replenishment.
Safety Inventory
Extra stock kept in storage to guard against uncertainty in demand or supply, ensuring product availability.
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