Supply Chain & Inventory Glossary
The concepts and metrics of supply chain and inventory management — safety stock, reorder points, EOQ, inventory turnover, OTIF and the bullwhip effect.
8 terms in this category
106 terms total
B
Bullwhip Effect
The amplification of demand variability as it moves up the supply chain from customer to supplier.
E
EOQEconomic Order Quantity
The order quantity that minimises the combined cost of ordering and holding inventory.
I
Inventory Turnover
How many times inventory is sold and replaced over a period — a core measure of inventory efficiency.
L
Lead Time
The total elapsed time between placing an order and receiving it — a key driver of inventory levels.
O
OTIFOn-Time In-Full
The percentage of orders delivered both on time and complete — a key customer-service metric.
R
Reorder Point (ROP)
The inventory level at which a replenishment order should be placed.
S
Safety Stock
Buffer inventory held to absorb variability in demand and lead time and prevent stock-outs.
Supply Chain
The end-to-end network that moves a product from raw material to customer — sourcing, manufacturing, warehousing, transport and returns.
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