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15.2: Build Your Vocabulary
Write a definition for each of the following terms and add it to your personal glossary.
inventory management
lead time
buffer stock
stockout
physical inventory
perpetual inventory-control system
manual-tag system
unit-control system
point-of-sale (POS) software
radio frequency identification (RFID)
periodic inventory-control system
just-in-time (JIT) inventory-control system
80/20 inventory rule
productive inventory
turnover rate
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