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GlossarySupply Chain

Inventory Management

The practice of ordering, storing, using, and selling inventory. Includes raw materials, work-in-progress, and finished goods. Key goals: minimize carrying costs while preventing stockouts.

Key Benchmarks

Turnover target: 8-12x
Carrying cost: 15-30% of value
Stockout rate target: <2%

Related Terms

Supply Chain Management (SCM)

The management of the flow of goods, data, and finances from raw material sourcing through manufacturing to customer delivery. Includes planning, procurement, production, logistics, and returns.

Demand Planning & Forecasting

The process of predicting future customer demand using historical data, market intelligence, and statistical models. Accurate demand planning reduces stockouts, excess inventory, and supply chain costs.

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