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It is difficult to determine exactly how many languages there are in the world due to the challenges of defining the boundaries between languages. Based on what you have learned in this chapter, write a comprehensive definition of "language" that could be used to distinguish between two similar forms of communication.
Cost of Overstocking
The expenses associated with holding excessive inventory, such as storage costs, insurance, and potential obsolescence.
Cost of Understocking
The financial losses and opportunity costs incurred from not having sufficient inventory to meet demand, including lost sales and customer dissatisfaction.
Product Availability
The extent to which a product can be purchased by consumers, influenced by inventory levels and supply chain efficiency.
Forecast Error
The gap between real results and what was forecasted by predictive models.
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