Inventory
Inventory is the collection of raw materials, work-in-progress goods, and finished products held by a company for the purpose of production and sale.
Inventory Management
Inventory management is the process of tracking and controlling the flow of goods, products, and materials within a supply chain.
Inventory Management System (IMS)
An inventory management system, or IMS, is a software application or set of tools that enable organizations to manage and track their inventory levels, sales, purchases, and other supply chain
Inventory Turn
Inventory turn, also known as “stock turns” or “inventory turnover,” is a measure of the efficiency with which a company manages its inventory. It represents the number of times a
Just-in-Time (JIT)
Just-in-time, or JIT, is an inventory system that aims to coordinate the arrival of materials or supplies at a facility at the moment that they are needed in an effort
Kanban
Kanban is the visual system used in lean manufacturing to manage the flow of materials and products through a production process.
Labels
Some clients require inventory or shipment labels to be attached to packaging (i.e., box, case, pallet, etc.). Many labels contain barcoded information, to allow scanning devices to quickly and automatically
Last In, First Out (LIFO)
Last in, first out, or LIFO, is an inventory allocation method whereby the last product stored is the first product that is utilized or allocated for the fulfillment of orders.
Lead Time
Lead time is the time it takes from when an order is placed until the goods are received.
Less Than Container Load (LCL)
Less than container load, or LCL, is a shipping method for cargo that is too small to fill an entire shipping container.