Examlex
The master production schedule is a statement of upcoming demand.
Acceptance Sampling
A statistical quality control method where a random sample of items is inspected to decide if the whole batch meets the prescribed standards.
AOQ
Average Order Quantity; the mean volume of goods ordered over a specific period of time, reflecting purchasing behavior.
Population Percent Defective
The percentage of items in a defined population that do not meet predefined standards or specifications.
Producer's Risk
The risk that a producer takes when a good batch is incorrectly rejected based on the sample quality test results, also known as Type I error in statistical testing.
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