Glossary
Inventory management glossary
270 inventory and purchasing terms explained for Shopify store owners, with formulas and worked examples.
- ABC analysis
- Advance shipping notice
- Aged inventory report
- Air freight
- Allocated inventory
- Anticipation inventory
- Assortment planning
- Available to promise
- Average daily sales
- Average inventory
- Back-to-back order
- Backorder
- Backorder rate
- Base stock level
- Baseline demand
- Batch ordering
- Beginning inventory
- Bill of lading
- Bill of materials
- Bin location
- Blanket purchase order
- Buffer stock
- Bullwhip effect
- Bundle inventory
- Carrying cost
- Carryover stock
- Case pack
- Cash conversion cycle
- Clearance inventory
- Co-packer
- Commercial invoice
- Committed inventory
- Consignment inventory
- Contract manufacturer
- Contribution margin
- Core products
- Cost of goods sold
- Cost per order
- Cross-docking
- Customs clearance
- Cycle count
- Cycle stock
- Damaged inventory
- Days inventory outstanding
- Days of supply
- DDP shipping
- Dead stock
- Demand forecasting
- Demand lead time
- Demand planning
- Demand sensing
- Demand spike
- Demand variability
- Discontinued SKU
- Drop ship purchase order
- Dropshipping inventory
- Dual sourcing
- Economic order interval
- Economic order quantity
- Ending inventory
- Excess inventory
- Exponential smoothing
- EXW shipping
- FCL shipment
- FIFO
- Fill rate
- Finished goods
- FOB shipping
- Forecast accuracy
- Forecast bias
- Forecast error
- Forecast horizon
- Freight cost per unit
- Freight forwarder
- GMROI
- Goods received note
- Gross margin
- Gross margin return on inventory
- Gross profit
- Gross to net requirements
- GTIN
- Hero SKU
- Holding cost
- HS code
- In-stock rate
- Inbound shipment
- Incoming inventory
- Incoterms
- Inner pack
- Intermittent demand
- Inventory accuracy
- Inventory adjustment
- Inventory aging
- Inventory audit
- Inventory budget
- Inventory carrying rate
- Inventory count sheet
- Inventory financing
- Inventory insurance
- Inventory KPI
- Inventory liquidation
- Inventory planning
- Inventory policy
- Inventory position
- Inventory reconciliation
- Inventory reserve
- Inventory shrink causes
- Inventory shrinkage
- Inventory sync
- Inventory to sales ratio
- Inventory transfer
- Inventory turnover
- Inventory turns per year
- Inventory valuation
- Inventory write-down
- Inventory write-off
- Just in time inventory
- Kanban
- Kitting
- Landed cost
- Launch inventory
- LCL shipment
- Lead time
- Lead time demand
- Lead time variability
- LIFO
- Long lead time items
- Long tail SKUs
- Lost sales
- Low stock threshold
- Lumpy demand
- Manufacturing lead time
- MAPE
- Markdown
- Mean absolute deviation
- Merchandise planning
- Min max inventory
- Minimum order quantity
- Moving average forecast
- Multi-location inventory
- Nearshoring
- Net 30 payment terms
- Net inventory
- Net requirements
- New product forecasting
- Obsolete inventory
- Ocean freight
- On hand inventory
- On order inventory
- Open to buy
- Opportunity cost of inventory
- Order consolidation
- Order cycle
- Order frequency
- Order fulfillment
- Order point
- Order quantity
- Order up to level
- Out of stock rate
- Overselling
- Overstock
- Overstock risk
- Pack size
- Packing slip
- Pallet quantity
- Par level
- Pareto principle in inventory
- Partial receipt
- Perfect order rate
- Periodic review
- Perpetual inventory
- Physical inventory count
- Pick list
- Pipeline inventory
- Pre-order
- Pre-season buy
- Price breaks
- Private label
- Procurement lead time
- Product lifecycle
- Product master data
- Product velocity
- Proforma invoice
- Promotional lift
- Purchase budget
- Purchase order
- Purchase order acknowledgment
- Purchase order number
- Purchase requisition
- Put-away
- Quantity on hand
- Quarantined inventory
- Raw materials
- Receiving
- Reorder cycle
- Reorder level
- Reorder point
- Reorder quantity
- Reorder trigger
- Replenishment
- Reserved inventory
- Restocking fee
- Retail inventory method
- Return to vendor
- Returns processing
- Revenue per SKU
- Reverse logistics
- Safety stock
- Safety time
- Seasonal forecasting
- Seasonal index
- Seasonality
- Sell-in vs sell-through
- Sell-through rate
- Sellable inventory
- Service level
- Shelf life
- Shrink rate
- Single sourcing
- Size curve
- Size run
- SKU
- SKU naming convention
- SKU rationalization
- Slow-moving inventory
- Sourcing agent
- Specific identification method
- Split shipment
- Standard cost
- Standard deviation of demand
- Standing order
- Stock cover
- Stock keeping
- Stock ledger
- Stock rotation
- Stock to sales ratio
- Stock velocity classes
- Stockout
- Stockout cost
- Stocktake
- Supplier
- Supplier deposit
- Supplier lead time variability
- Supplier onboarding
- Supplier scorecard
- Supplier SKU
- Supply chain disruption
- Target stock level
- Tariffs and duties
- Third-party logistics
- Three-way match
- Transit time
- Two-bin system
- Unit cost
- Unit of measure
- Units per case
- UPC code
- Variant
- Vendor managed inventory
- Volume discount
- Warehouse management system
- Weeks of supply
- Weighted average cost
- Weighted moving average
- White label
- Work in progress
- Working capital
- XYZ analysis
- Year over year growth
- Z-score in inventory
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