Examlex
Which of the following statements is true?
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.
Different Product
A good or service that is distinct from others in its category, often possessing unique characteristics or features.
Demand
The quantity of a product or service that consumers are willing and able to purchase at a given price.
Safety Inventory
The extra inventory held to mitigate the risk of stockouts due to uncertainties in demand or supply.
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