Examlex
Number of worker (per hour) | total output(per hour) | marginal physical product (output per worker) | total revenue(dollars per hour) | marginal revenue product (dollars per worker) |
1 | 4 | ...... | ______ | ........ |
2 | 10 | ______ | ______ | ______ |
3 | 15 | ______ | ______ | ______ |
4 | 19 | ______ | ______ | ______ |
5 | 22 | ______ | ______ | ______ |
Inventory Holding Cost
The total cost incurred by holding inventory, including storage, insurance, spoilage, and opportunity costs.
Carrying Costs
Expenses associated with maintaining inventory, including storage, insurance, and opportunity costs.
Cycle Counting
An approach to stock audit where a limited selection of the inventory at a defined site is enumerated on a chosen date.
Service Level
A measure of the performance of a service system, often defined in terms of responsiveness to customer needs and reliability.
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