Materials Management and Inventory Systems |
Contents
FORECASTING | 27 |
Soliciting Opinions | 54 |
Econometric Models | 60 |
Copyright | |
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Common terms and phrases
algorithm annual demand average inventory backorder cost components constraints cost per outage cost per unit critical ratio day 1 demand day second day day third day demand 2 demand demand and lead demand in units demand rate demand third day determine economic order quantity economic production quantity end items ending inventory EXAMPLE FIFO fixed order interval forecast formula fraction for units frequently holding cost inventory investment inventory items inventory models inventory record lead time demand LIFO manufacturing material requirements planning maximum inventory level method MRP system number of units obtained optimal order cost order cycle order interval system order size system organization parameters perpetual inventory Poisson distribution probability distribution purchase cost quantity discount random numbers reorder point replenishment safety stock schedule second day third standard deviation standard normal table stockout cost stockout level fraction techniques tion total annual cost unit cost units demanded zero