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Rational Planning requires that an agency's goals are:
Inventory Status
A detailed report or overview of a company's current stock levels, including types of inventory, quantities on hand, and their respective conditions.
Specified Threshold
A predetermined level, limit, or point at which an action, process, or change occurs or is invoked.
Continuous Review
A system of inventory management where the stock levels are continuously monitored, and orders are placed as soon as the inventory drops below a predetermined level.
Reorder Point (ROP)
The inventory level at which an order should be placed to replenish stock before it runs out, ensuring a balance between stock availability and minimal holding costs.
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