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Results 6 - 10 of 12
6.
Carrying Cost
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The carrying cost is the cost of holding an item in inventory. Carrying cost is usually calculated in periods of a year.
16/05/2009
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7.
Shortage Cost
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The Shortage Cost is the cost of not having sufficient inventory, usually due to an attempt to reduce carrying costs (the cost of holding items). It is the opportunity cost of not having sufficient inventory to fulfill demand.
16/05/2009
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8.
ABC Approach
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The ABC Approach is the approach to classifying inventory according to some measure of importance, and allocating control efforts accordingly. It is often seen in Inventory Management Systems in order to classify inventory in order to decide how...
16/05/2009
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9.
Inventory Management System
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An Inventory Management System also frequently referred to as an Inventory Classification System is an important aspect of inventory management since items held in inventory are not of equal importance in terms of dollars invested, profit...
16/05/2009
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10.
ABC Inventory Classification
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ABC Inventory Classification is an Inventory Classification System and is an important aspect of inventory management. ABC Inventory Classification involves classifying inventory according to some measure of importance and allocating control...
16/05/2009
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