Ordering cost – the cost associated with replenishing the stock of inventory being held.
Periodic inventory system – an order is placed for variable amount after a fixed passage of time.
Reorder point – when inventory reaches a specific level
EOQ – the optimal order quantity that will minimize total inventory costs.
Quantity discount – price discount on an item if predetermined number of units are ordered.
Base – is the basic of a cake
Safety stock – a buffer added to the inventory on hand during lead time
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