Cross-Docking - Pre-defining inventory for shipment., Backorder - An incomplete order. Goods not yet available., Distribution - Moving products in response to customer requests., FIFO - First In, First Out. Oldest inventory is distributed first., LIFO - Last In, First Out. Newest inventory is distributed first. , Loading - Depositing goods to the desired transportation medium., Logistics - All activities required to have controlled product and information flow. , Order - Request for goods to send to a specific location., Packing - Process of preparation of picked goods for shipping., Picking - The accumulation of requested goods either for distribution to a manufacturing facility or to a customer., Product Number - Internal or external identification number used to control storage, distribution, or manufacture of inventory., Receiving - The process of unloading, checking, and marking inbound merchandise for put-away., Reorder Point - A pre-determined inventory level where a replenishment order should be placed., Returns - Goods returned to the facility due to various reasons., Safety Stock - The inventory quantity that is considered adequate to protect against stock-out., Shipping - The process of tendering, manifesting, and signing over goods to a transportation provider., Stock-Keeping Unit (SKU) - A unit of raw goods, products, and/or merchandise.,

Inventory Management Glossary

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