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Inventory Management Glossary: Terms & Definitions

The Inventory management glossary gives you an overview of useful terms and definitions related to supply chain management and business practices. Additionally, you’ll find examples, informative resources, and actionable tips for your business.

Whether you’re just getting into Inventory Management for your business or looking for definitions to refresh your memory, this glossary will help you keep track of the most important terms.

The list will get expanded to include more relevant terms in the future, so bookmark this page for reference and look up words whenever you need.

letter A for the inventory management glossary

ASN Document (Advanced Shipment Notice)
Autonomous Robots
Assembly Line
Asin Numbers

Average Costing

Available To Promise

Activity Based Costing (ABC)
Automated Data Collection
Average Transaction Value (ATV)
Application Service Provider
Activity Based Management (ABM)

letter B for the inventory management glossary

Backorder
Backflush
Bill of Materials
Blind Count
Bonded Warehouse
Brick and Click Store
Blanket Order
Bespoke Product
Batch Picking
Backhaul

letter C for the inventory management glossary

Carrying Costs
Cloud Inventory
Consumer Goods
Cycle Count
Consumable Inventory
Consignment Inventory
Churn Rate
Channel Management
CPG Industry
Closed-Loop Marketing
Collaborative Robots
Cost of Sales
Costing Method
Containerization

letter D for the inventory management glossary

Decoy Pricing
Dock-to-Stock
Decoupling Inventory
Demand Forecasting
Digital Purchase Order
Distribution Channels

Letter E in the glossary

ERP: Enterprise resource planning
Economic Order Quantity (EOQ): Components and Benefits

Letter F in the inventory management glossary

Finished Goods
FIFO (First-In-First-Out)
Flow Production

Letter H in the glossary

Holding Cost

Letter I in the glossary

Inventory Management
Inventory Management Software
Inventory Discrepancy
Inventory Audit
Inventory Replenishment
In-Transit Inventory
Inventory Kitting
Inventory Accuracy
Inventory Turnover Ratio
Inbound Logistics

Letter J in the inventory management glossary

JIT (Just In Time)

Keystone Pricing

Letter L in the glossary

Landed Cost
LIFO (Last-In-First-Out)
Lights Out Manufacturing

Lean Logistics
Lean Manufacturing
Lean Inventory
Lot Νumber
List Price Vs Cost Price
Logistics Service Provider
Lead Time

Letter M



Multichannel Retail
MRO Inventory Management
MOQ: Minimum Order Quantity
MES: Manufacturing Execution System
MRP: Definition and Benefits
Master Production Schedule (MSP)

Non-Inventory Items

Letter O

On-Hand Inventory
Omnichannel Retail
Order Fulfillment
Overstock Inventory
Order Lead Time
Omni Consumer Product

Letter P

Partial Shipment
Periodic Inventory System
Perpetual Inventory System
Pick and Pack
Product Bundling
Purchase Order
Procurement
3PL and 4PL Logistics
POS Point of Sale
POS Software
Product Quantity Analysis
Production Planning

Letter Q

Retail
Raw Materials
Reorder Point
RRP (Recommended Retail Price)

Letter S

Safety Stock
Sales Order
SKU (Stock-Keeping-Unit)
Supply Chain Management
SRP Pricing
Stock Replenishment
Stocktake
Scientific Inventory Control

Universal Product Code

Value Chain
Vendor Managed Inventory

Letter W

Warehouse Management
Wave Picking
WIP Inventory

If you’re looking for help regarding the Megaventory Software, check out our Knowledge Base.

Feel free to request more terms in the comments for the inventory glossary below!

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