Product Suite

Supply Chain Glossary - S

Supply Chain Glossary - S

service function

A mathematical relationship of the safety factor to service level, i.e., the fraction of demand that is routinely met from stock.

1) In its narrowest sense, an organization that provides an intangible product, e.g., medical or legal advice. 2) In its broadest sense, all organizations except farming, mining, and manufacturing. This definition of service industry includes retail trade; wholesale trade; transportation and utilities; finance, insurance, and real estate; construction; professional, personal, and social services; and local, state, and federal governments.


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