This article covers:
- The definitions of Min, Max, ROP, and ROQ
- Why the differences are meaningful and important
- The pros and cons of using each
- Why you need to get this right
- Links to further reading
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Pro Level members at SparePartsKnowHow.com can access an extended paper titled, A Practical Method for Determining Spare Parts Holding Levels. As the name suggests this paper details a simple and transparent method for determining the ROP and ROQ and shows you how to do this in three easy steps.
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Author: Phillip Slater