Autoregressive Moving Average (ARMA)
A forecasting tool composed of autoregressive and moving average concepts used for understanding and predicting values in time series data.
Burden
The amount of overhead.
Logistics Costs
The costs of transportation, receiving, warehousing, materials management, shipping and distribution.
Logistics
The process of planning, implementing and controlling the efficient, cost-effective flow and storage of raw materials, in-process inventory, finished goods and related information from point of origin to point of consumption for the purpose of conforming to customer requirements.
Mode
The observed value that occurs most often in a data set (i.e., the value with the highest frequency). A data set may have more than one ____.
Needs Analysis
The identification and analysis of the components necessary to satisfy a particular business requirement.
Regulatory Compliance
An organization’s observance of laws, regulations and specifications applicable to the business.
Packaging
The container, wrapper, or shipping box of a product.
