The Law Dictionary

Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

PROBABILISTIC INVENTORY CONTROL Definition & Legal Meaning

Definition & Citations:

A method that has its basis in the assumption of a relatively constant demand over time for inventory items. As such, the probability distribution of the demand is determinable, especially during the lead time for replenishment.

Disclaimer

This article contains general legal information but does not constitute professional legal advice for your particular situation. The Law Dictionary is not a law firm, and this page does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.