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The Chinese word for metre is 米 mǐ; this can take the Chinese standard SI prefixes (for "kilo-", "centi-", etc.). A kilometre, however, may also be called 公里 gōnglǐ, i.e. a metric lǐ. In the engineering field, traditional units are rounded up to metric units. For example, the Chinese word 絲 (T) or 丝 (S) sī is used to express 0.01 mm.
Economic order quantity. Economic order quantity ( EOQ ), also known as financial purchase quantity or economic buying quantity, [citation needed] is the order quantity that minimizes the total holding costs and ordering costs in inventory management. It is one of the oldest classical production scheduling models.
A system of units of measurement, also known as a system of units or system of measurement, is a collection of units of measurement and rules relating them to each other. Systems of measurement have historically been important, regulated and defined for the purposes of science and commerce. Instances in use include the International System of ...
A unit of time is any particular time interval, used as a standard way of measuring or expressing duration. The base unit of time in the International System of Units (SI), and by extension most of the Western world, is the second, defined as about 9 billion oscillations of the caesium atom. The exact modern SI definition is " [The second] is ...
MOQ – Minimum Order Quantity; MOU – Memorandum of understanding; MPC – marginal propensity to consume; MRO – Maintenance, Repair, and Operations; MRP – Maximum Retail Price; MSOD – Monthly Statement of Select Operational Data; MSRP – Manufacturer's Suggested Retail Price; MTD – Month-to-date; MWC – Managerial Working Capital ...
The economic production quantity model (also known as the EPQ model) determines the quantity a company or retailer should order to minimize the total inventory costs by balancing the inventory holding cost and average fixed ordering cost. The EPQ model was developed and published by E. W. Taft, a statistical engineer working at Winchester ...
The International System of Units, internationally known by the abbreviation SI (from French Système international d'unités ), is the modern form of the metric system and the world's most widely used system of measurement. Coordinated by the International Bureau of Weights and Measures (abbreviated BIPM from French: Bureau international des ...
Week. A week is a unit of time equal to seven days. It is the standard time period used for short cycles of days in most parts of the world. The days are often used to indicate common work days and rest days, as well as days of worship. Weeks are often mapped against yearly calendars, but are typically not the basis for them, as weeks are not ...