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What is Shortage Cost

Chapter 113
Encyclopedia of Business Analytics and Optimization
Shortage cost is the cost of having a shortage and not being able to meet demand from stock. Shortages of stocks may result in the cancelation of orders and heavy losses in sale which in turn may result in loss in goodwill, profit even the business itself.
Published in Chapter:
Inventory Models for Deteriorating Items
Vinod Kumar Mishra (B.T. Kumaon Institute of Technology, India)
Copyright: © 2014 |Pages: 10
DOI: 10.4018/978-1-4666-5202-6.ch113
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