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Buffer Stock
A reserve supply of materials or products kept as a precaution against unexpected shortages or supply chain disruptions.
Just-in-Time (JIT) Production
A system where products are manufactured or stocked only when needed, preventing excess inventory and reducing storage costs.
Kaizen (Continuous Improvement)
A Japanese principle meaning continuous, gradual improvement, where small, consistent changes are made to processes to enhance productivity and eliminate inefficiencies.
Lean Operations
A business approach aimed at reducing waste and improving efficiency, ensuring that resources are used effectively without unnecessary costs or delays.