Industrial Engineering and Production Management
Inventory control in production, planning and control aims at

Acceptable customer service at low capital investment in inventory
Discounts allowed in bulk purchase
Ensuring against market fluctuations
Achieving optimization

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Industrial Engineering and Production Management
The process capability of a machine is defined as the capability of the machine to

Holds a definite spectrum of tolerance and surface finish
Produce job at a definite spectrum of speed
Perform definite number of operations
Produces a definite volume of work per minute

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