The language of operations.

Classifying inventory into A, B and C tiers by value or importance.

Money your business owes to suppliers for goods or services received.

Money owed to your business by customers for sales made on credit.

A breakdown of receivables or payables by how overdue they are.

A defined chain of sign-offs a transaction must pass before proceeding.

Monitoring the location, custody and condition of physical assets.

An order accepted for an item that is currently out of stock.

A specific addressable storage position within a warehouse.

A single PO covering multiple deliveries over a period at agreed terms.

The total cost of holding inventory over time.

The direct cost of the products a business sold in a period.

A document reducing the amount a customer owes on a prior invoice.

Moving goods from inbound to outbound with little or no storage.

A unified view of everything you know about a customer.

Counting a subset of inventory on a rolling schedule instead of all at once.

The average number of days stock is held before it is sold.

Inventory that is unlikely to ever sell.

The order size that minimises the combined cost of ordering and holding stock.

A record confirming what was actually received against a purchase order.

The percentage of revenue left after the cost of goods sold.

The ability to trace any item forward and backward through the chain.

How many times inventory is sold and replaced over a period.

A seller’s itemised request for payment for goods or services.

The total cost of a product once it arrives, including freight, duties and fees.

The total time between placing an order and receiving the goods.

Grouping stock by production batch for traceability and expiry control.

Purchasing made outside approved processes or contracts.

Retrieving items from storage to fulfil an order.

The system where a retail sale is completed and recorded.

The end-to-end process from requisition to supplier payment.

A formal buyer document authorising a purchase from a supplier.

An internal request to buy, submitted for approval before a PO is raised.

Moving received goods to their correct storage locations.

A seller’s formal offer of prices and terms to a prospective buyer.

The stock level that triggers a new purchase or production order.

An invitation to suppliers to submit priced quotes for specified items.

A buffer of extra inventory held to protect against demand or supply variability.

Tracking individual units by a unique serial number.

Deciding where each item should be stored to optimise handling.

A correction to recorded stock to match the physical count.

A unique code identifying a single, distinct product variant.

Running out of an item so demand cannot be fulfilled.

A data-driven approach to selecting suppliers for long-term value.

A structured rating of a supplier’s delivery, price and quality performance.

Verifying a supplier invoice against the PO and the goods received before paying.