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Interpretation of Simple Inventory Control Charts
How can businesses interpret inventory control charts?
Businesses can interpret inventory control charts by analyzing trends in inventory levels, identifying reorder points, and assessing the efficiency of inventory management practices.
What are the key metrics and data represented in inventory control charts?
Inventory control charts display key metrics such as inventory levels, reorder points, lead times, stockouts, and demand patterns over time. They provide visual representations of inventory performance, help identify trends, deviations, and potential issues, and support decision-making in inventory management, such as determining optimal inventory levels and order quantities.
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