- Forecast by SKU, cost, item, currencies, margin, country, channel, customer location, etc.
- Drive inventory and safety stock levels according to customer requirements using the Service Level Optimizer
The application of statistical techniques to control quality. Often the term statistical process control is used interchangeably with statistical quality control, although statistical quality control includes acceptance sampling as well as statistical process control.
The mathematical determination of safety stock quantities considering forecast errors, lot sizes, desired customer service levels, and the ratio of lead time to the length of the forecast period. Safety stock is frequently the product of the appropriate safety factor and the standard deviation or mean absolute deviation of the distribution of demand forecast errors.
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