BoR: Inventory Basics Vocabulary

Barcode

• A machine-readable series of parallel lines that send information to the retailer about the buyer.

• A readable series of parallel lines that combine to create an item

  identifier.

• A set of parallel lines always in black that help find the price of an item.

• A machine-readable series of parallel lines that combine to create a unique item

  identifier.

Tags containing electronically stored information

that identify objects using a radio-wave reader.

• RFID (Radio Frequency identification)

• PLU (Price Look-Up)

• Safety stock

• Excess Inventory

A system of numbers that uniquely identifies bulk produce items

or other iterns on which it may be difficult to apply a barcode.

• RFID (Radio Frequency identification)

• PLU (Price Look-Up)

• Safety stock

• Excess Inventory

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

• Receiving

• Inventory replenishment

• Inventory shrinkage

• Stockroom

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

• Stockroom

• Inventory replenishment

• Receiving

• Inventory shrinkage

The behind-the-scenes area where inventory is kept that does not fit on the sales

fioor or is await:ng a specific release date to be sold.

• Stockroom

• RFID

• Safety stock

• Excess inventory

Extra inventory kept on hand in case customers buy more than the company

estimated before the next shipment arrives.

• Excess inventory

• Stockroom

• Safety stock

The process of placing inventory on sales floor shelves, racks or other dispiays to be sold.

• Stocking

• Receiving

• Counting

• Scanning

The term for when customers have purchased more products than the company

estimated and inventory is sold out. It may or may not be available again in the future.

• Not-in-stock

• Out-of-stock

• Stockroom inventory

• Floor inventory

The term for when customers did not buy as much inventory as the company

estimated and there is too much inventory in stock.

• overstock

• stockroom inventory

• Excess inventory

• understock