Inventory management definitions and inventory terms beginning with the letter A
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ABC analysis is a method of categorizing items based on cost and demand quantity to identify which items need more attention than others.
accounting and inventory software
Also called an inventory control management system or inventory control program, accounting and inventory software provides an integrated system for a business to maintain inventory control & business management.
Acknowledgements (EDI transaction 997) are electronic notifications sent automatically between systems.
activity based costing
Activity based costing allocates the cost of specific resources based on the actual consumption of them.
Acctivate is powerful, affordable inventory and warehouse management software that includes a robust set of business management tools, including customer relationship management, purchasing, sales order management and decision support tools.
Activity scheduling enables assigning, managing and track activities throughout the organization.
Actual cost or specific identity cost is used when inventory is serial-numbered, allowing each item to be sold at the actual cost for which it was purchased. When inventory is lot-numbered, the actual cost is the weighted average of all purchases for that lot.
Added costs are costs incurred after receipt of product in inventory may be included in product valuation.
Adjustments correct inventory records to match actual inventory levels.
Adjustment transactions adjust balances for accounting purposes such as changing the stated value of inventory for a particular product.
advanced shipment notification
An advanced shipping notification, also called an ASN, EDI 856 document, or Advance Shipping Notice, is an electronic notification of pending deliveries, similar to a packing list.
Alerts are reminders that can be filtered by type and due date.
Inventory allocations, or inventory commitments, set aside specific inventory for sales or manufacturing purposes.
alternate product IDs
Alternate product IDs may be used as an alternate lookup key or may be printed on the sales and/or purchase documents.
annual physical inventory
An Annual physical inventory is a manual count of inventory on-hand with the results compared to the inventory system counts.
ANSI ASC X12 EDI
ANSI ASC X12, also called ASC X12, are the official U.S. standard codes for EDI.
apparel inventory software
Apparel inventory software is software designed for manufacturers, wholesalers, importers, and distributors of clothing, jewelry, accessories, and footwear.
appliance store software
Appliance store software is designed for small to mid-sized appliance distributors and online-retailers to manage inventory and business operations efficienctly.
An ASN, also called an EDI 856 document, Advance Shipping Notice or Advance Ship Notice, is an electronic notification of pending deliveries, similar to a packing list.
An ASN, or EDI Advance Shipping Notice, is an electronic notification of pending deliveries, similar to a packing list.
Assemblies, or made to stock inventory, create a new product, with the components used depleted from inventory and the new product added to the finished goods inventory.
An Audit trail is the tracking of an activity associated with an inventory adjustment transaction.
auto part inventory software
Auto parts software is software designed for auto part businesses to management inventory and business functions, while allowing quick access to a vast amount of customer and product information.
auto parts store software
Auto parts store software is software for auto parts distributors, jobbers and retailers in the automotive aftermarket.
automotive parts distribution software
Automotive parts distribution software is software designed for auto parts distributors to manage inventory, distribution, sales and customer service.
Available, also called available inventory, is the quantity of inventory available for sales orders.
available to promise
Available to promise inventory is the inventory on-hand inventory less backordered & reserved inventory.
Average cost is a costing valuation method that, as new stock is received, the total value of the received inventory items is added to the value of the existing inventory items, with the resulting value divided by the resulting quantity on hand to form a true weighted average cost.
average cost inventory
Average cost inventory uses the weighted average cost of inventory on hand.
Average valuation costing
Average valuation costing uses the weighted average cost of inventory on hand.