level of service
Definition:
The degree of satisfaction offered by a company to its customers over a period of time. Level of service is notionally quantifiable as the percentage of orders (or volume of goods) which can be supplied on time to meet the customers' demands, whether from STOCK or from current production. It is the degree to which STOCKOUTS do not affect customers. Level of service may thus be the focus of a business strategic objective.
Cross-References:
[stock]
[stockout]
Links:
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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Ken N. Bernard],.