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If Sally admits she made an oral agreement to buy a computer costing $1300, the agreement is nevertheless unenforceable under the statute of frauds.
Carrying Cost
The total cost of holding inventory, including storage, handling, insurance, and opportunity costs, over a certain period of time.
Safety Stock
Additional inventory held to protect against variability in demand or supply, ensuring that stockouts are minimized and service levels are maintained.
Lead Time
The total period needed to fulfill an order from the moment it is placed until it is delivered to the customer.
Safety Stock
Extra inventory kept to guard against shortages due to fluctuations in demand or supply.
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