A Cheat Sheet for Understanding Key Terms
Browse through our extensive repertoire of terms and definitions, and empower yourself with the necessary knowledge to navigate confidently in the field of warehouse management.
List of terms
A combined analysis method that classifies inventory into multiple categories based on both value (ABC) and demand predictability (XYZ).
Activity-Based Costing (ABC)
A cost allocation method that assigns costs to specific activities or processes based on their actual consumption of resources.
Adaptive Inventory Control
A dynamic approach to inventory management that adjusts in response to changing demand and other factors.
An inventory replenishment strategy that adjusts ordering quantities based on demand fluctuations and other variables.
Advanced Planning and Scheduling (APS)
Software and systems that optimize production and supply chain planning to maximize efficiency.
Advanced Shipping Notification (ASN)
A notice sent by a supplier to a recipient to inform them of an incoming shipment's details before it arrives, facilitating smooth logistics and inventory management.
Advanced Shipping Solutions
Software and systems that streamline the shipping process, providing accurate rates and shipping options.
A production strategy that emphasizes flexibility and quick response to changing customer demands.
A flexible and adaptable approach to procurement that can quickly respond to changing requirements and market conditions.
A document or system that tracks how long inventory has been in the warehouse, helping to identify slow-moving or obsolete items.
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