Inventory, locations and counting

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Inventory, locations and countingABC analysis

Classifying items by movement volume or value. In the warehouse it is usually based on pick frequency and drives slotting and count frequency.

See also: Slotting, Cycle count

Inventory, locations and countingAvailable / free stock

Quantity usable for a particular operation after status, reservation and other eligibility checks. The calculation depends on system rules; it differs from total on-hand stock and forward-looking available-to-promise quantity.

See also: Physical on-hand stock, ATP (available to promise), Reservation

Inventory, locations and countingCycle count

Counting a portion of the warehouse at regular intervals without stopping operations. It catches errors earlier than a year-end full count.

See also: Full (physical) count, Inventory accuracy

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Inventory, locations and countingExcess inventory (overstock)

Quantity exceeding expected demand and the target stock level. Even a fast-selling item can be overstocked, so excess inventory and slow-moving inventory are different concepts.

See also: Slow-moving inventory, Min–max inventory control, Inventory carrying cost

Reference: Mecalux

Inventory, locations and countingExpiry date

The last date an item can be used. It affects both putaway and picking rules; remaining shelf life is often a contractual requirement.

See also: FEFO (First expired, first out), Lot / batch

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Inventory, locations and countingFEFO (First expired, first out)

An issue rule prioritising the eligible batch with the earliest expiry. It uses expiry rather than receipt date; the customer's minimum remaining shelf-life requirement is checked separately.

See also: FIFO (First in, first out), Expiry date, Remaining shelf life

Reference: Microsoft Learn

Inventory, locations and countingFIFO (First in, first out)

A flow rule issuing eligible stock in receipt order, oldest receipt first. Unlike FEFO, its priority is entry sequence rather than expiry date.

See also: FEFO (First expired, first out), LIFO (Last in, first out), Pallet flow racking

Reference: Mecalux

Inventory, locations and countingFull (physical) count

Counting all stock at once, usually with operations halted. It is needed for financial closing but does not by itself sustain accuracy.

See also: Cycle count

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Inventory, locations and countingInventory aging (ageing)

Analysis grouping on-hand inventory by age, such as 0–30, 31–60 and 61–90 days, in quantity and optionally value. State the date basis and how issues are assigned to age buckets. A warehouse transfer does not automatically reset the product's actual age; time since last movement and time to expiry are separate measures.

See also: Inventory inactivity, Remaining shelf life, Slow-moving inventory

Reference: Microsoft Learn

Inventory, locations and countingInventory inactivity

The absence of a specified stock movement for a defined period. Last sale, last consumption and last warehouse transfer are different dates; the report must identify which movement it uses. Inactivity is not inventory age.

See also: Inventory aging (ageing), Dead stock

Inventory, locations and countingLIFO (Last in, first out)

A physical flow in which the most recently stored load is retrieved first, as in some single-ended deep storage systems. This describes handling order; accounting valuation is a separate matter.

See also: FIFO (First in, first out), Drive-in racking, Push-back racking

Reference: Mecalux

Inventory, locations and countingLocation

A defined place where stock sits: aisle, rack, bin or bulk area. Without an addressing scheme, “we have stock” is not operationally useful.

See also: LPN / pallet ID, Location-to-location transfer

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Inventory, locations and countingLocation capacity

A bin’s limit in volume, weight or pallet count. The WMS cuts putaway suggestions against that limit; undefined capacity produces blocked aisles and damage.

See also: Putaway, Location, Cube utilisation

Inventory, locations and countingLocation freeze

Blocking inbound and outbound moves to an address until a count or quality decision ends. Counting an unfrozen location produces variance because it keeps moving.

See also: Cycle count, Quarantine area

Inventory, locations and countingLocation-to-location transfer

Moving stock from one location to another. Unscanned moves are the most common cause of count discrepancies and mis-picks.

See also: Location

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Inventory, locations and countingLot / batch

A number given to goods produced or received under the same conditions. It is the basis of recalls, complaint investigation and shelf-life management.

See also: Expiry date, Serial number, FEFO (First expired, first out)

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Inventory, locations and countingMaterial loss / wastage

Quantity lost through causes such as breakage, spillage or evaporation during handling, storage or processing. Not every count discrepancy is wastage; investigate the cause and record the appropriate transaction and reason.

See also: Count / book variance, Reason code, Scrap

Inventory, locations and countingMin–max inventory control

A replenishment approach that proposes restoring stock to a target maximum when it reaches the planned minimum threshold. Treatment of open orders, demand and lead time depends on the planning rule.

See also: Replenishment, Reorder point, Safety stock

Reference: Microsoft Learn

Inventory, locations and countingNegative stock

The system showing a negative balance. It usually signals out-of-sequence postings or unscanned moves and should be blocked by rule.

See also: Inventory accuracy

Inventory, locations and countingObsolete inventory

Stock that has lost usefulness for its intended purpose because of design changes, model replacement or discontinued need. It need not be past expiry; alternative use or disposal requires a separate decision.

See also: Dead stock, Disposition, Scrap

Reference: Mecalux

Inventory, locations and countingPhysical on-hand stock

Quantity physically present in the warehouse at a given time. Not all of it is available for shipment: it can include blocked, quarantined or order-reserved quantities.

See also: Available / free stock, Stock status, Full (physical) count

Inventory, locations and countingReason code

A standard reason written on an adjustment, shortage, damage, return or count variance. Free text that cannot be reported blinds quality and stock analysis.

See also: Stock adjustment, OSD (overage / shortage / damage), Damage code

Inventory, locations and countingRemaining shelf life

Time from the inspection or delivery date until expiry. A customer may require minimum days or a share of total shelf life at delivery; an unexpired batch is not necessarily eligible for shipment.

See also: Shelf life, FEFO (First expired, first out), Expiry date

Reference: Microsoft Learn

Inventory, locations and countingReserve storage

The warehouse area holding bulk inventory used to replenish picking locations. Here 'reserve' describes a storage role, not stock reserved against a customer order.

See also: Replenishment, Pick face, Reservation

Inventory, locations and countingSerial number

A number identifying a single physical unit. Used for warranty, service and high-value tracking; it requires its own scan at picking and shipping.

See also: Lot / batch, Traceability

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Inventory, locations and countingShelf life

The period during which a product retains its specified properties under defined packaging and storage conditions. It is not time since warehouse receipt; the product's applicable start and end dates govern it.

See also: Expiry date, Remaining shelf life, Inventory aging (ageing)

Reference: Microsoft Learn

Inventory, locations and countingSlotting

Deciding which item sits in which location based on turnover, volume, weight and affinity between items. It is an analysis that must be repeated regularly.

See also: ABC analysis, Pick face

Inventory, locations and countingSlow-moving inventory

Goods sold or consumed more slowly than expected. Demand has not necessarily disappeared; classification considers seasonality and the product's usage cycle. There is no single day threshold suitable for every item.

See also: Inventory aging (ageing), Inventory turnover, Dead stock

Reference: Mecalux

Inventory, locations and countingStock adjustment

A deliberate change to system quantity after a count or finding. An adjustment without authority, reason code and dual control breaks traceability.

See also: Reason code, Dual control, Cycle count

Inventory, locations and countingStock status

States of the same item such as available, blocked, quarantined, damaged or reserved. Status determines what is actually sellable.

See also: Quality control, hold and release, Reservation

Inventory, locations and countingStock transfer order (STO)

A planned goods movement between two warehouses or sites. It creates an outbound at the sending site and an inbound at the receiving site; in-transit stock is tracked separately.

See also: Outbound delivery, Inbound delivery, Pipeline stock

Inventory, locations and countingTraceability

Being able to show retrospectively which lot an item came from, where it sat and who received it. It is the measurable counterpart of a recall.

See also: Lot / batch, Serial number, İTS (Pharmaceutical Track and Trace System)