Stock Control Key Terms Flashcards
1
Q
Buffer Stocks
A
Stocks held as a precaution to cope with unforeseen demand.
2
Q
Kanban
A
A card or an object that acts as a signal to move or provide resources in a factory.
3
Q
Lean Time
A
The time between placing the order and the delivery of goods.
4
Q
Re-order Level
A
The level of current stock when new orders are placed.
5
Q
Re-order Quantity
A
The amount of stock ordered when an order is placed.
6
Q
Stock Rotation
A
The flow of stock into and out of storage.
7
Q
Work-in-progress
A
Partly finished goods.
