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Inventory
n.
Pronunciation
/ˌɪnvənˈtɔri/
Acronym
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.
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