#  Glossary

- Elasticity(price): How the demand of a product reacts to a variation of price. i.e when the price of a product is discounted of 20% the demand can improve by 30% for a product with a good price elasticity or only 5% for a product with a low elasticity.
- Markdown: Deliberate reduction of the selling price. It is usually done through a discount visible to the customer
- Lost sales Volume: We have lost sales when the demand exceeds the available stock.
- Lost sales $: The profit not gained compared to the total profit if the stock of a product would be enough to match the predicted demand.
- Sellthrough: demand for a product as a percentage of the current stock (forecasted_demand/stock) * 100
- Uplift: Relative increase in percentage ( new_value - reference_value)/(reference_value) * 100. For example with a new value of 120 and a reference value of 100 we have an uplift of 20.

 