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