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Inventory Abbreviations

The document provides a comprehensive list of inventory-related terms and abbreviations, including definitions for SKU, UPC, EAN, and various inventory management metrics such as EOQ and ROP. It also covers concepts related to inventory control and optimization, warehouse and distribution, as well as demand planning and supply chain analytics. This resource serves as a reference for understanding key terminology in inventory management.

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Woody Woodpecker
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16 views13 pages

Inventory Abbreviations

The document provides a comprehensive list of inventory-related terms and abbreviations, including definitions for SKU, UPC, EAN, and various inventory management metrics such as EOQ and ROP. It also covers concepts related to inventory control and optimization, warehouse and distribution, as well as demand planning and supply chain analytics. This resource serves as a reference for understanding key terminology in inventory management.

Uploaded by

Woody Woodpecker
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Inventory

Abbreviations
General Inventory Terms
SKU (Stock Keeping Unit) – A unique identifier for each
product.

UPC (Universal Product Code) – Barcode for retail


tracking.

EAN (European Article Number) – International barcode


system.

PLU (Price Look-Up Code) – Used for identifying produce


and bulk items.

GTIN (Global Trade Item Number) – A unique identifier for


trade items globally.

MPN (Manufacturer Part Number) – Unique code


assigned by a manufacturer to a specific part.

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@IsmailMohamed
General Inventory Terms

ISBN (International Standard Book Number) – A unique


identifier for books.

ASIN (Amazon Standard Identification Number) – A


unique identifier for Amazon products.

FNSKU (Fulfillment Network Stock Keeping Unit) – Used


in Amazon warehouses.

HSN (Harmonized System of Nomenclature) –


Classification code for goods used in customs.

BOM (Bill of Materials) – A list of raw materials,


components, and subassemblies needed for production.

@IsmailMohamed
Basic Inventory Terms
BOM – Bill of Materials (list of components needed to
produce a product).

COGS – Cost of Goods Sold (total cost of producing goods


sold).

E&O – Excess and Obsolete Inventory (unsold or outdated


inventory).

EIR – Equipment Interchange Receipt (document for


inventory movement tracking).

FOQ – Fixed Order Quantity (constant quantity ordered


each time)

@IsmailMohamed
Basic Inventory Terms
GR/IR – Goods Receipt/Invoice Receipt (accounting
process for inventory transactions).

IM – Inventory Management (tracking and controlling stock


levels).

IV – Inventory Variance (difference between recorded and


actual inventory).

LOT – Lot Number (batch identification for inventory


items).

MSL – Minimum Stock Level (lowest inventory level before


reordering).

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Inventory Management Metrics
EOQ (Economic Order Quantity) – The optimal order
quantity to minimize costs.

ROP (Reorder Point) – The inventory level at which a new


order should be placed.

LT (Lead Time) – The time taken for replenishment after


an order is placed.

DOH (Days on Hand) – The number of days current


inventory can last.

DIO (Days Inventory Outstanding) – The average number


of days inventory is held before being sold.

TAT (Turnaround Time) – The time taken to fulfill an


order or process inventory.

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Inventory Management Metrics

ICR (Inventory Carrying Rate) – The cost of holding


inventory as a percentage of total inventory value.

ISS (Inventory Service Level) – The percentage of


customer demand fulfilled from available inventory.

SL (Service Level) – A measure of inventory availability to


meet customer demand.

COV (Coverage) – The number of days current stock can


cover expected demand.

ITR (Inventory Turnover Ratio) – The number of times


inventory is sold and replaced in a given period.

PTD (Planned Time of Delivery) – Estimated time of


receiving inventory replenishment.

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Inventory Control & Optimization
JIT (Just-In-Time) – Inventory strategy to reduce
stockholding costs.

MRP (Material Requirements Planning) – A system for


calculating materials needed for production.

VMI (Vendor-Managed Inventory) – Suppliers manage and


replenish customer inventory.

ABC (ABC Analysis) – A categorization method based on


value and importance.

SLOB (Slow Moving and Obsolete Inventory) – Inventory that


is moving slowly or is obsolete.

DRP (Distribution Requirements Planning) – A system for


planning inventory replenishment across a network.

EPI (Excess and Obsolete Inventory) – Inventory that


exceeds demand or is outdated.

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Inventory Control & Optimization

MOQ (Minimum Order Quantity) – The lowest quantity a


supplier allows for purchase.

SS (Safety Stock) – Extra inventory kept to prevent


stockouts.

BOH (Balance on Hand) – The quantity of inventory


physically available.

ATP (Available to Promise) – The quantity of inventory


available for new orders.

FMI (Finished Goods Inventory) – Completed products


ready for sale.

RMI (Raw Material Inventory) – Unprocessed materials


waiting for production.

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Warehouse & Distribution
WMS (Warehouse Management System) – Software for
managing warehouse operations.

RFID (Radio Frequency Identification) – Technology for


tracking inventory with radio signals.

ASN (Advanced Shipping Notice) – A supplier


notification before goods arrive.

DC (Distribution Center) – A warehouse for storing and


shipping inventory.

FCL (Full Container Load) – A shipment that fills an


entire container.

LCL (Less than Container Load) – A shipment that


shares a container with other goods.

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Warehouse & Distribution

EDI (Electronic Data Interchange) – A system for


automated inventory data exchange between
businesses.

CBM (Cubic Meter) – Measurement used for inventory


volume in warehouses.

LPN (License Plate Number) – A unique identifier


assigned to pallets or containers.

LUM (Location Utilization Metric) – A measure of


warehouse space efficiency.

TMS (Transportation Management System) – A


software solution for optimizing freight and shipping.

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Demand Planning & Supply Chain Analytics

IBP (Integrated Business Planning) – A process aligning supply


chain operations with financial planning.

S&OP (Sales and Operations Planning) – A process balancing


supply and demand.

DDMRP (Demand-Driven MRP) – A planning approach based on


demand signals.

CFA (Cross-Functional Analysis) – A method for optimizing


inventory across departments.

DPA (Demand Planning Accuracy) – A measure of how


accurately demand forecasts match actual sales.

SIS (Stock in Supply Chain) – Inventory held across different


supply chain nodes.

CFIA (Customer-Facing Inventory Availability) – Inventory that


is available to fulfill customer orders.

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