Inventory Glossary

P – Inventory management terms

P - Inventory management terms

Inventory management definitions and inventory terms beginning with the letter P

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With Platform as a Service (PaaS), providers supply network, servers, storage and additional services that support the deployment and use of applications. Users have the ability to manage their services in a scalable manner, including the development of software and configurations of their software, over the internet.

packaging distribution software

Packaging distribution software is software for packaging distributors to increase efficiency, improve inventory and fulfillment operations, and grow their business.

packaging manufacturing erp

A Packaging manufacturing ERP solution helps manufacturers of packaging products to handle inventory, procurement, orders, and their entire business.

paint inventory software

Paint inventory software helps distributors, manufacturers, and online retailers within the paint and coatings industry improve the accuracy and productivity of their warehouse and inventory operations.

pallet rack

A pallet rack, normally part of a pallet rack system, provides storage for palletized materials.

paper distribution software

Paper distribution software is software for paper distributors to streamline inventory and business operations, reduce errors, save time, and promote growth.

paper picking

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.

paperless picking

With paperless picking, the product is picked by scanning a barcode from a mobile handheld computer, with no printed paperwork required.

paperless system

A paperless system enables documents from multiple sources across an organization to be stored electronically with the system.

part number

A part number is an identifier or code associated with each part or product.

parts inventory software

Parts 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.

parts management system

A parts management system consolidates inventory and orders, optimizing procurement processes and providing instant access to real-time information on parts availability.

past due

Past due is a status of something (ex. a bill, a shipment) that has gone past the due date.

payment options

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.

perpetual inventory system

perpetual inventory system delivers features and benefits that help businesses manage operations in real-time rather than periodically and in a manual manner.

personalized packing documentation

Personalized packing documentation can include customized bills of lading, invoices, packing slips, shipping labels, and customer thank you notes.

pharmaceutical manufacturing inventory software

Pharmaceutical manufacturing inventory software plays a crucial role in boosting efficiency, ensuring compliance, and achieving operational excellence within the pharmaceutical sector.

pharmaceutical software

Pharmaceutical software is software with features critical to pharmaceutical manufacturing and distribution businesses including traceability, kitting, barcoding and consigned inventory management.

physical inventories

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.

pick slip

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

Picking accuracy refers to the level of accuracy achieved associated with the orders picked for shipping.

piece picking

Piece picking refers to picking individual items for shipping.

plastics erp

Plastics ERP is a complete business management software for plastic products manufacturers to simplify and automate operational processes.

plumbing distribution software

Plumbing distribution software is software for plumbing distributors to boost inventory, business, and service operations.

pool business software

Pool business software helps pool and spa supply distributors, manufacturers, online retailers, dealers, and service professionals remain relevant with capabilities for efficient operational management in a market known for high demand.

pop-up reminders

Pop-up reminders are alerts that can be filtered by type and due date.

preferred supplier

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.

price quote

A price quote is a formal proposal for a prospect detailing the cost and terms of products for sale to initiate the sales process.

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

Pricing controls enable the control and monitoring of pricing decisions across the company, by segment, by product or by customer.

process manufacturing

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

Procurement cost is the cost of goods or services acquired by a business.

procurement software

Procurement software is a comprehensive software solution that streamlines and automates purchasing, inventory & order management.

produce distribution software

Produce distribution software is software for produce distributors to improve business and inventory operations, reduce costs, and improve efficiences.

product availability

Product availability refers to product that has been received and is available to sell.

product code

A product code identifies each product and may contain numbers, letters, special characters and embedded spaces.

product images

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

Product metrics refer to product characteristics such as weight, height, length and volume.

product pictures

Product pictures, also called product images, refer to the ability to store product images with product descriptions and product attributes.

product search

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

Product specifications define the requirements & attributes of a product.

product traceability system

A product traceability system manages lot and serial numbered products with real-time, bi-directional tracking and tracing of raw and finished goods from receipt to delivery.

production order

A production order, also called a production work order, is an order that initiates the manufacturing process.

production run

A production run refers to the manufacturing of a product or part.

professional services

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.

public warehouse

A public warehouse is a warehouse that leases space and provides services to multiple customers.

published price

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.

purchase order

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.

purchase requisition

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

Purchasing alerts are system alerts generated when specified inventory conditions occur.

purchasing and supply management

Purchasing and supply management is the process of acquiring goods and services from external sources while effectively managing the supply chain to meet organizational needs.

purchasing management

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.

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