Operations Glossary
Consignment Inventory
Stock held on your premises but still owned by the supplier until it is used or sold.
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Stock control — item master and locations, counts and adjustments, transfers and approvals, traceability and quality holds, replenishment, and warehouse operations.
Operations Glossary
Stock held on your premises but still owned by the supplier until it is used or sold.
Operations Glossary
Picking the stock with the nearest expiry date first, regardless of receipt order.
Operations Glossary
The stock you can genuinely commit to a new order after existing allocations.
Operations Glossary
Stock received into the books before the supplier invoice has arrived.
Operations Glossary
A customs-controlled facility where imports are stored before duty is paid.
Operations Glossary
A record confirming what was actually received against a purchase order.
Operations Glossary
The ability to trace any item forward and backward through the chain.
Operations Glossary
The portion of inventory that is consumed and replenished in the normal cycle.
Operations Glossary
Goods needing special handling, labelling and declaration in transit.
Operations Glossary
Counting a subset of inventory on a rolling schedule instead of all at once.
Operations Glossary
The average number of days stock is held before it is sold.
Operations Glossary
An unbroken record of who held an item at each point in its journey.
Operations Glossary
Tracking shelf life so stock is used or cleared before it expires.
Operations Glossary
Picking the same item for several orders in one trip, then sorting.
Operations Glossary
Estimating future demand to plan purchasing and stock levels.
Operations Glossary
How long it takes received goods to become available to pick.
Operations Glossary
How many times inventory is sold and replaced over a period.
Operations Glossary
A specific addressable storage position within a warehouse.
Operations Glossary
An order accepted for an item that is currently out of stock.
Operations Glossary
Assigning a monetary value to the stock you hold.
Operations Glossary
The share of demand met from stock on hand without delay.
Operations Glossary
A breakdown of stock by how long it has been held.
Operations Glossary
Issuing or costing the oldest stock first.
Operations Glossary
Inventory that is unlikely to ever sell.
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