Inventory management definitions and inventory terms beginning with the letter P
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A pallet rack, normally part of a pallet rack system, provides storage for palletized materials.
With paper picking, orders are picked with customizable pick lists that are printed or reprinted and can include items, quantity, locations, ship date, order date, shipping carrier, terms, customer type, or other system information.
With paperless picking, the product is picked by scanning a barcode from a mobile handheld computer, with no printed paperwork required.
A paperless system enables documents from multiple sources across an organization to be stored electronically with the system.
part inventory software
Part inventory software is business and inventory software designed to handle complex product environments allowing quick access to a vast amount of customer and product information.
A part number is an identifier or code associated with each part or product.
Past due is a status of something (ex. a bill, a shipment) that has gone past the due date.
Payment options are the methods that the customer may pay for an order or invoice.
Permissions, or user permissions, allow only the authorized personnel to have access to specific features and information.
personalized packing documentation
Personalized packing documentation can include customized bills of lading, invoices, packing slips, shipping labels, and customer thank you notes.
Pharmaceutical software is software with features critical to pharmaceutical manufacturing and distribution businesses including traceability, kitting, barcoding and consigned inventory management.
Physical inventories involve the counting of inventory items and updating warehousing inventory information.
physical inventory software
Physical inventory software is software designed to manage the process of determining the quantity of inventory on hand through a physical inventory count.
A pick slip, or pick sheet, identifies the items to be pulled from inventory and can include items, quantity, locations, ship date, order date, shipping carrier, terms, customer type, or other system information.
Picking, or order picking, is the process of collecting items to fulfill an order before shipment.
Picking accuracy refers to the level of accuracy achieved associated with the orders picked for shipping.
Piece picking refers to picking individual items for shipping.
Pop-up reminders are alerts that can be filtered by type and due date.
A preferred supplier, also called a preferred vendor, is a supplier with whom a business has designated as a preferable source of goods and services.
Price is the amount required to purchase goods or services.
pricing by catch weight
Pricing by catch weight, or catch weight pricing, enables selling pieces that vary in weight from piece to piece, but price by weight.
Pricing controls enable the control and monitoring of pricing decisions across the company, by segment, by product or by customer.
Process manufacturing, also called batch process manufacturing, is associated with recipes or formulas and allows for components to be adjusted based on seasonal requirements, availability, or the requirement for substitutions.
Procurement cost is the cost of goods or services acquired by a business.
Product availability refers to product that has been received and is available to sell.
A product code identifies each product and may contain numbers, letters, special characters and embedded spaces.
Product images, or product photos, refer to the ability to store product images with product descriptions and product attributes.
product inventory software
Product inventory software is software that manages and controls the handling of product inventory transactions such as inventory receiving, inventory transfers, inventory counts and inventory picking.
Product metrics refer to product characteristics such as weight, height, length and volume.
Product pictures, also called product images, refer to the ability to store product images with product descriptions and product attributes.
A Product search, or product lookup, is the ability to search for products via 15 different product attributes including product name, product code, etc.
Product specifications define the requirements & attributes of a product.
A production order, also called a production work order, is an order that initiates the manufacturing process.
A production run refers to the manufacturing of a product or part.
Professional services are services rendered by professionals who generally require the tracking and billing of time and materials to receive compensation for their services.
professional services billing
Professional services billing tracks billable and non-billable time and materials for services, enabling services to be billed separately or combined on a single invoice.
A public warehouse is a warehouse that leases space and provides services to multiple customers.
The published price is the amount required to purchase goods or services that is published or publicly listed as the price.
publishing & book distribution software
Publishing & book distribution software is software with key features critical to book distributors including inventory management, kitting, eCommerce, EDI and advanced CRM capabilities.
A purchase order is a request to purchase items from a company.
purchase order management
Purchase order management utilizes historical pricing information and other purchasing tools to manage purchasing activities, streamline the purchasing process and improve spend management.
A purchase requisition, or a purchase request, is a formal request to purchase items from a company.
Purchasing is the function of obtaining goods and services for a company.
Purchasing alerts are system alerts generated when specified inventory conditions occur.
Purchasing management is the management of the purchasing processes for a business including vendor management, forecasting and purchase order management.
purchasing management software
Purchasing management software is software with key features critical to facilitate the purchase management process.
Putaway is the act of moving inventory to a warehouse location following receipt of a shipment.