Glossary Category: Operations & Inventory Management

A unique identifier (code/number) assigned to each distinct product and service for inventory tracking.

A measure of whether a product is in inventory and available for purchase.

The practice of promoting and selling products, including strategies for product display, pricing, and promotion.

A methodology focused on minimizing waste and maximizing value through iterative testing, data-driven decisions, and validated learning.

The quantity of a specific product a business has in stock. Monitoring this prevents stockouts and overstocking.

The process of receiving, packaging, and shipping orders to customers.

A retail fulfillment method where a store doesn’t keep the products it sells in stock. Instead, it purchases the item from a third party and has it shipped directly to the customer.

A retailer who has official permission from the manufacturer or brand to sell its products.