Examlex
The reason(s) for batch scheduling being a complex management problem is/are
Economic Order Quantity
The optimal quantity of inventory to order that minimizes the total costs associated with ordering and holding inventory.
Carrying Costs
Expenses associated with holding inventory, such as storage, insurance, and opportunity costs, until it is sold or used in production.
Annual Requirements
The total quantity or volume of resources, goods, or services needed by an organization or project over the course of a year.
Pull System
A method of production control where downstream activities signal their needs to upstream activities, promoting just-in-time production and minimizing inventories.
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