SAFETY STOCK Definition

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SAFETY STOCK (SS) or security stock ensures that the item is available up to the pre-defined required service level, even when the re-ordered material arrives later then expected, or the fluctuations in demand during the lead-time cause the demand to be larger then expected. See also STOCK RESERVE.

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SURCHARGE is a charge added on top of another charge for a specific service, product or purpose.

CHIPS is Clearing House Interbank Payment System. A computerized payment system for clearing checks in New York.

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