Inventory Vocabulary

What is the meaning of Inventory tracking?

• Replenish (a store) with fresh stock or supplies

• The time and place where a retail transaction is completed.

• A software system used to keep record of inventory levels, orders, sales and deliveries.

• Merchandise kept in a warehouse and available for sale or distribution.

What is the meaning of Restock?

• The time and place where a retail transaction is completed

• The oldest inventory items are recorded as sold first

• Merchandise kept in a warehouse and available for sale or distribution

• Replenish (a store) with fresh stock or supplies

What is the meaning of POS?

• The time and place where a retail transaction is completed

• The oldest inventory items are recorded as sold first

• Merchandise kept in a warehouse and available for sale or distribution

• Replenish (a store) with fresh stock or supplies

What is the meaning of spoilage?

• Replenish (a store) with fresh stock or supplies

• The time and place where a retail transaction is completed.

• A software system used to keep record of inventory levels, orders, sales and deliveries.

• Items with expiration dates, like food or even cosmetics that can become rotten or unusable if not sold in time

What is the meaning of FIFO?

• The time and place where a retail transaction is completed

• The oldest inventory items are recorded as sold first

• Merchandise kept in a warehouse and available for sale or distribution

• Replenish (a store) with fresh stock or supplies

What is the meaning of stock?

• The time and place where a retail transaction is completed

• The oldest inventory items are recorded as sold first

• Merchandise kept in a warehouse and available for sale or distribution

• Replenish (a store) with fresh stock or supplies

What is the meaning of Par levels?

• The amount that should be available at any time for an item. When an item falls below “par,” it is replenished.

• The amount of items in my refrigerator.

• Merchandise kept in a warehouse and available for sale or distribution

• Replenish (a store) with fresh stock or supplies