Stock control key words Flashcards
1
Q
Buffer stocks
A
Stocks held as a precaution to cope with unforeseen demand
2
Q
Lead time
A
The time between placing the order and the delivery of goods
3
Q
Re order level
A
The level of current stock when the new orders are placed
4
Q
Re order quantity
A
The amount of stock ordered when an order is placed
5
Q
Stock rotation
A
The flow if stock into and out of storage
6
Q
Work in progress
A
Partly finished goods
