Search results
Results from the WOW.Com Content Network
In a base-stock system inventory position is given by on-hand inventory-backorders+orders and since inventory never goes negative, inventory position=r+1. Once an order is placed the base stock level is r+1 and if X≤r+1 there won't be a backorder. The probability that an order does not result in back-order is therefore:
In economics, total-factor productivity (TFP), also called multi-factor productivity, is usually measured as the ratio of aggregate output (e.g., GDP) to aggregate inputs. [1] Under some simplifying assumptions about the production technology, growth in TFP becomes the portion of growth in output not explained by growth in traditionally ...
Constant fill rate for the part being produced: Economic production quantity; Demand is random: classical Newsvendor model; Demand is random, continuous replenishment: Base stock model; Demand varies deterministically over time: Dynamic lot size model; Several products produced on the same machine: Economic lot scheduling problem
Infinite fill rate for the part being produced: Economic order quantity; Demand is random, continuous replenishment: Base stock model; Demand varies over time: Dynamic lot size model; Several products produced on the same machine: Economic lot scheduling problem
A simplified cash flow model shows the payback period as the time from the project completion to the breakeven. In economics and business, specifically cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even".
Time-weighted return calculates a fund’s compound return using sub-periods, which are created each time cash moves into or out of the fund or portfolio. In doing so, TWR shows the real market ...
However, there is no hard and fast definition as to what is classified as "long" or "short" and mostly relies on the economic perspective being taken. Marshall's original introduction of long-run and short-run economics reflected the 'long-period method' that was a common analysis used by classical political economists.
In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: [1] Allocative or Pareto efficiency : any changes made to assist one person would harm another.