Examlex
When dividing a population into subgroups so that a random sample from each subgroup can be collected,what type of sampling is used?
Order Up To Level
A replenishment strategy used in inventory management where stock is ordered up to a predetermined level whenever the inventory falls below a certain point.
Safety Inventory
The reserve stock maintained to prevent stockouts, ensuring smooth operations despite demand and supply fluctuations.
Pipeline Inventory
Goods in transit or in the process of distribution, considered as a part of a company's inventory.
Product Substitution
The practice of replacing one product with another, often due to stockouts, customer preferences, or cost considerations, to maintain service levels and customer satisfaction.
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