Glossary
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Safety Stock.
The stock held to protect against the differences between forecast and actual consumption, and between expected and actual delivery times of procurement orders, to protect against stockouts during the replenishment cycle. In calculating safety stock, account is taken of such factors as service level, expected fluctuations of demand and likely variations in lead time.
Sales Forecast.
The prediction, projection or estimation of expected sales over a specified future time period.
Sample Stability.
If a sample produces a particular result, and by increasing the sample size it continues to produce the same result, the sample has stability and can be assumed to be representative of the population. This is an important characteristic when the population size is unknown or extremely large.
Seasonal Stock.
See Anticipation Stock
Secondary Transport.
The transport 'leg' from a distribution centre (DC) to the customer. For example from the retailer DC to the retail store.
Selective inventory Control.
The application of varying levels of control to the total inventory to enable managers to concentrate on significant matters (see ABC analysis and ABC classification).
Service Differentiation.
Is a Supply Chain management approach that aims to reduce costs by identifying customer service needs and ensuring that customers are not unnecessarily over or under serviced.
Stock Site.
A location at which stock is held.
Stock Turn.
The number of times that an inventory turns over during the year and normally obtained by dividing the average inventory value into the annual cost of sales.
Stocktaking.
A physical count of products actually held in stock as a basis for verification of the stock records and accounts.
Stock Turnover (or Stock Turn).
A widely used measure of inventory performance expressed as the ratio of the cost of units sold to the average value of stock.
Stock Types.
The products which are determined for delivery from stock.
Strategic Stock.
The stock of goods of essential importance for the continuation of the production process and which is built up in order to compensate for long hold-ups of incoming goods (caused by strikes and political difficulties etc. in a particular country or region).
Supply-Chain.
The total sequence of business processes, within a single or multiple enterprise environments, that enable customer demand for a product or service to be satisfied.
Supply-Chain Management (SCM).
Organisation of the overall business processes to enable the profitable transformation of raw materials or products into finished goods and their timely distribution to meet customer demand.
Acronyms | 1-10 | A | B | C | D | E | F | G | H | I | J
K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
