Rise Up Unit 3 Vocabulary

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Inventory

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All the items, goods, and merchandise held by a business for selling in the market to earn a profit.

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Inventory Replenishment

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The process of automatic or manual ordering to meet product demands.

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Receiving

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The process of matching the invoiced quantity to the actual products delivered.

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RFID

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Radio-frequency identification - a tag containing electronically-stored information that identifies objects using a radio wave reader.

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Inventory Shrink

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The term used when there are fewer items in stock than in the total inventory record, caused by expired products, damage, theft, and/or paperwork errors.

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CRAVED

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The acronym that describes products that are often shoplifted: Concealable, Removable, Available, Valuable, Enjoyable, Disposable.

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Fraud

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A deliberate deception intended to secure an unfair or unlawful gain.

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Americans with Disabilities Act

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Passed by Congress in 1991, this act banned discrimination against the disabled in employment and mandated easy access to all public and commercial buildings.

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Family and Medical Leave Act (FMLA)

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Provides eligible employees with unpaid, job-protected leave for certain family or medical conditions.

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Occupational Safety and Health Administration (OSHA)

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A government agency in the Department of Labor to maintain a safe and healthy work environment.