S – Inventory management terms

saas

Software as a Service (SaaS) is a software delivery model where the software and data is centrally located and hosted for users to access over the internet. As a common delivery model, professionals are able to save money by using thin clients to access and use applications to run their business.

safety lead time

Safety lead time is the process of placing a replenishment order with buffer time included to accommodate for unexpected customer orders or problems.

safety stock

Safety stock is a level of inventory reserved as a buffer for problems with vendor shipments, unexpected customer orders or damaged goods.

sales and inventory software

Sales and inventory software manages the inventory, purchasing, sales orders, order fulfillment and other business functions for a company.

sales cycle management

Sales cycle management is the management of the sales process from prospect to implementation.

sales force automation

Sales force automation, or SFA, is a part of CRM and incorporates tools to automate sales and sales force management functions.

sales force automation software

Sales force automation software is software designed to automate the sales process, including lead acquisition and lead flow throughout the sales organization.

sales lead management

Sales lead management, also called sales opportunity management, automates and tracks lead acquisition, lead assignment, the lead qualification process and lead flow.

sales lead qualification

Sales lead qualification is a business process to determine if a lead is ready, willing and able to complete a purchase.

sales order

A sales order is a customer order and can include products, service fees, shipping fees, handling charges or any other chargeable item or activity.

sales order management

Sales order management is the process to manage pre-sales activities, quotes, sales orders, post-sales activities and back office operations.

sales probability

Sales probability is part of a sales process methodology that predicts the probability of winning in company-defined increments.

sales process

The sales process is a systematic approach to selling a product or service.

sales process methodology

Sales process methodology is the series of pre-defined steps from lead to sales order.

sales quote

A sales quote is a proposal provided to a prospect outlining costs and terms for the proposed sales order.

seafood distribution software

Seafood distribution software is designed to help seafood distributors lower costs, comply with regulations, track and sell by catch weight, and manage food safety.

seasonal stock

Seasonal stock, also referred to as anticipation inventory, build up stock, and speculative inventory, is a basic use of inventory purchased in advance and stocked to meet expected fluctuations in supply and demand related to seasonality, current events, trends, promotions, and other events.

seasonality

Seasonality, or seasonal demand, is the fluctuation in demand for products based on the time of year.

sell-through rate

What is sell-through rate? Sell-Through Rate = (Number of Units Sold / Number of Units Received) × 100

selling price

The selling price is the price for which the item is sold.

serial number

A serial number is a unique number assigned by a manufacturer to identify a specific item.

serial number tracking

Serial number tracking is the ability to track and trace serial numbers back to suppliers, through outsourcers or to customers by lot or batch.

service billing

Service billing tracks billable and non-billable time and materials for services, enabling services to be billed separately or combined on a single invoice.

service history

Service history is a complete historical record of customer service requests, communication, orders, and other associated history.

service level

The service level measures the performance level of a service delivered to customers.

service management

Service management is the ability to organize, track and invoice for service business operations including field service management and professional services management.

service management software

Service management software is software designed to handle service management and scheduling and the tracking of billable and non-billable time and materials.

service order

A service order is an order for new service, a change in existing service, or an order to discontinue service.

service scheduling

Service scheduling provides graphical viewing and scheduling of service activities.

sheet metal inventory management

Sheet metal inventory management enables distributors and manufacturers to optimize inventory and other business processes to accelerate warehouse and manufacturing efficiency throughout the supply chain.

shipment tracking

Shipment tracking is the ability to track package and shipments.

shipping

Shipping refers to the commercial transporting of packages.

shipping accuracy

Shipping accuracy refers to the level of accuracy achieved with the orders shipped.

shipping fees

Shipping fees are the cost-based or flat fee shipping fees that may be added to the invoice.

shipping handling fees

Shipping handling fees are the shipping fees and additional handling fees intended to cover the labor and package expense associated with shipping an item.

shipping integration

Shipping integration refers to the software integration with FedEx, UPS, USPS, ShipStation, StarShip & DHL to provide order & address information and to collect package information.

shipping workstation

The shipping workstation is shipping software integrated with FedEx, UPS, USPS, StarShip, ShipStation or DHL to track shipments online.

shopping cart abandonment

Shopping cart abandonment, also known as purchase abandonment, is the uniquely online scenario involving potential customer visiting a web store places several items into their virutal cart and suddenly abandon the site before purchasing.

shrinkage

Shrinkage, also called inventory shortage or breakage, refers to inventory that is lost, missing or broken.

simple inventory control

Simple inventory control is process of easily maintaining the right amount of inventory to maximize sales without oversupply.

simple inventory software

Simple inventory software is software designed to control the inventory and business management functions of a company that is easy to use and understand.

simple inventory system

A simple inventory control system is an easy to use system for maximizing inventory control by integrating inventory management, warehousing, purchasing and other business management activities across the company.

skid

A skid is a wood or plastic pallet or platform for holding inventory.

sku

A SKU, or stock keeping unit, is a number or code used to identify products.

sku rationalization

SKU rationalization is the process of focusing on high-performing products and allocating resources to SKUs that are more likely to drive growth.

slotting

Slotting, also called inventory slotting, is the practice of identifying the most efficient placement for each item in a warehouse.

slow moving inventory

Slow moving inventory are inventoried items that have had very little customer demand over a given time period.

small business construction software

Small construction business software helps small to midsized construction supply distributors, and retailers satisfy demand, cut costs, strengthen profitability, and amplify productivity with tools for inventory control, advanced procurement, pricing, sales, CRM, imports/exports, multiple branches, and more.

small business inventory

Small business inventory is the inventory or stock owned by a small business.

small business inventory management

Small business inventory management combines the use of inventory management software, personnel and procedures to maintain inventory control for small businesses.

small business inventory software

Small business inventory software, also called small business inventory control software, provides an integrated system for small businesses to maintain inventory control & business management.

small business manufacturing software

Small business manufacturing software aids and enhances the operations of small manufacturing enterprises by providing a wide array of tools and features that facilitate the efficient management of diverse aspects of manufacturing and business processes, including production, inventory management, quality control, procurement, and distribution, thereby promoting streamlined operations.

software for distributor

Software for distributors is specialized software designed for distribution businesses to manage the acquisition, distribution, multiple location warehousing activities, CRM, purchasing, sales order management and decision support.

software for food manufacturers

Software for food manufacturers ensures quality, manages recipes, streamlines processes, optimizes inventory and order processes, and provides traceability.

software for inventory

Software for inventory is software designed to improve inventory control by tracking and managing inventory items more efficiently and accurately.

software for inventory control

Software for inventory control is software for maximizing inventory control by integrating inventory management, warehousing, purchasing and other business management activities across the company.

software for warehouse management

Software for warehouse management, also called software for warehousing, allows for inventory to be configured and organized across multiple, actual or virtual, warehouses.

software inventory systems

Software inventory systems, also called software inventory programs, are designed to maximize inventory control by maintaining the right amount of inventory to maximize sales without oversupply.

spare parts inventory software

Spare parts inventory software helps spare parts distributors manage inventory, fulfillment, serial numbers, and other business operations effectively.

spare parts management system

A spare parts management system ensures smooth operations, reduced downtime, and boosted productivity.

special order

A special order is an order for a product that is not a normal part of a business’ purchase ordering process.

speculative inventory

Speculative inventory , also referred to as anticipation inventory, seasonal stock, and build up stock, is inventory pre-purchased and stocked to handle foreseen sales surges due to various situations like seasonality, as well as projected supply shortages, product cost increases, and company shutdowns.

spend analysis

Spend analysis is the process of reviewing and analyzing historical spending in an effort to reduce procurement costs and improve vendor management.

sporadic demand

Sporadic demand, also called intermittent demand, refers to products that have irregular and infrequent purchasing or demand patterns.

sports equipment inventory software

Sports equipment inventory software is software designed for sporting goods companies that includes matrix inventory management, lot and serial numbers and other inventory and distribution management capabilities.

standard cost

Standard cost is an inventory valuation method where all inventory on hand is valued at the standard cost established for the product.

stock control software

Stock control software provides the system for businesses to maintain inventory and stock control.

stock control system

A stock control system is system for maximizing stock control by integrating inventory management, warehousing, purchasing and other business management activities across the company.

stock inventory management

Stock inventory management combines the use of stock and inventory management software, personnel and procedures to maintain stock inventory control.

stock inventory software

Stock inventory software is software designed to improve stock inventory control by tracking and managing stock inventory items more efficiently and accurately.

stock inventory system

A stock inventory system is system for maximizing stock inventory control by integrating stock inventory management, warehousing, purchasing and other business management activities across the company.

stock keeping unit

A stock keeping unit, or SKU, is a number or code used to identify products.

stock management software

Stock management software is software designed to control the stock, inventory and business management functions of a company.

stock management system

A stock management system unites stock control procedures, inventory software and management oversight to create a system to effectively manage stock for a business.

stocktaking software

Stocktaking software is software designed to facilitate the process of auditing or counting existing inventory in stock to ensure correct stock quantities.

supplement inventory management software

Supplement inventory management software helps supplement industry businesses track inventory and manage orders of supplements, vitamins, and other products.

supplier

A supplier is a vendor of raw materials, products or services.

supplier management

Supplier management, also called vendor management, refers to the use of vendor pricing and performance data to improve spend decision making, resulting in more cost effective vendor management.

supply chain inventory management

Supply chain inventory management combines the use of inventory management software, personnel and procedures to maintain inventory control throughout the supply chain.

supply chain management software

Supply chain management software is software designed to manage the supply chain and business management functions of a company.

supply chain management solution

A supply chain management solution integrates the purchasing, inventory, warehousing, manufacturing and functions of a business.

supply chain software

Supply chain software is software that includes a robust set of business management tools, including purchasing, inventory, warehousing, manufacturing and decision support tools.

sustainability

Sustainability is a focus and conscious effort to ensure that the resources used today don’t negatively compromise those of future generations.

system for inventory

A system for inventory is a system for maximizing inventory control by integrating inventory management, warehousing, purchasing and other business management activities across the company.

system inventory software

System inventory software is software designed to improve inventory control by tracking and managing inventory items more efficiently and accurately.