Inventory

n.

Pronunciation

/ˌɪnvənˈtɔri/

Definition

The stock of any product used in a business.

Inventory can include raw materials and finished products. A well-managed PIM system can have information pertaining to inventory levels, such as when stock should be replenished and how large orders on an e-commerce site should be. The purposes of inventory are to help meet product demand and lower cost by establishing product economic order quantities.

Category

Related Terms

Product Information Encyclopedia

©2019 by Industrial Data Associates, Inc.

4041 N. Milwaukee, Suite 301, Chicago, IL 60641, US

Have an Edit?

Logo-2CRev-34px-TM.png