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Inventory planning. Inventory planning involves using forecasting techniques to estimate the inventory required to meet consumer demand. [1][2][3] The process uses data from customer demand patterns, market trends, supply patterns, and historical sales to generate a demand plan that predicts product needs over a specified period.
Inventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation. [nb 1] Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or ...
Inventory control or stock control can be broadly defined as "the activity of checking a shop's stock". [1] It is the process of ensuring that the right amount of supply is available within a business. [2] However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business's ...
COB – Close of Business. COC – Cost of Credit [2] or Cost of Capital [3] COD – Cost of Debt [4] or Cash on Delivery. COE – Center of Excellence or Cost of Equity [5] COGS – Cost of Goods Sold. Corp. – Corporation. COO – Chief Operating Officer. CPA – Certified Public Accountant. CPI – Consumer Price Index.
Vendor-managed inventory (VMI) is an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor. Under VMI, the retailer shares their inventory data with a vendor (sometimes called supplier) such that the vendor is the decision-maker who determines the ...
Strategic inventory is a collection of stored goods where the primary rationale is rooted in the strategic interaction among involved parties within a supply chain. Different from other motives for inventory management, such as fixed costs (e.g. cyclic inventory in the economic order quantity model), uncertainties in demand and supply (safety ...
An inventory valuation allows a company to provide a monetary value for items that make up their inventory. Inventories are usually the largest current asset of a business, and proper measurement of them is necessary to assure accurate financial statements. If inventory is not properly measured, expenses and revenues cannot be properly matched ...
Inventory investment is a component of gross domestic product (GDP). What is produced in a certain country is naturally also sold eventually, but some of the goods produced in a given year may be sold in a later year rather than in the year they were produced. Conversely, some of the goods sold in a given year might have been produced in an ...