Glossary

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WMS Glossary of Terms

The following are terms and vocabulary you might hear in distribution and inventory management. Any of the More Info buttons will connect you with someone at QStock Inventory to answer any additional questions you may have. Hit Ctrl+F to bring up a search for this page to find a specific term.

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ABC Inventory

Instead of looking at inventory as a single unit or product line, ABC is a way to separate items based on proprietary calculations of value and volume to be able to focus on high priority items separately from less critical items.


Adjustment

Inventory is usually brought in using a receipt of a Purchase Order, and relieved through fulfilling Sales Orders. An adjustment is adding or removing inventory outside of that workflow. Common adjustments could be: damage, spoilage, sales samples, or consumption.


Advanced Shipping Notice (ASN)

Advanced shipment notifications (ASNs) are used to notify a customer of a shipment. ASNs will often include PO numbers, SKU numbers, lot numbers, quantity, pallet or container number, carton number.


Allocation

When a Sales Order is allocated that inventory in a specific location is locked to that Sales Order. This allows a sales person to see what is On Hand vs Available.


Application Program Interface (API)


Assembly

Often referred to as Work Order or Final Assembly, assembly is bringing products together to create a new product. This would use a Bill of Material or Recipe to define what parts would be consumed, and the ratios, to get the cost and apply to the finished good.


Auto-Allocation

A background process that allocates a Sales Order as they are created to make sure the first request for an item gets that inventory locked to that order. Orders can be unallocated to free up inventory for higher profile orders.


Available to Promise


Available To Sell (ATS)

With clothing and other matrix items (See Matrix Inventory) ATS will show what is available not just for a single SKU, but for an entire Style of a product in various sizes and colors. 

Barcode (1D/2D)

A 1D barcode is the common barcode seen on most products with uniform lines with varying thickness and spacing. It is considered 1D because a perpendicular line could scan the barcode.

A 2D barcode is a collection of dots arranged in a shape that can contain much more data. A QR Code is an example of a 2D barcode. Often used in industries like medical devices which need more information in each scan.


Best By Date

Another term for Expiration Date.


Bill of Lading

A detailed list of a shipment of goods in the form of a printed document given by the carrier to the person buying the finished goods. 


Bin

A bin is a defined space on a rack where product is stored. Often a portion of a shelf. This is the location marked as where a product is stored within QStock Inventory and where a person would be directed to find a specific item.


Blind Count

Prior to selecting QStock Inventory, most customers use count sheets that include the current assumed stocking levels, which can allow a user to agree with the current level without counting. Blind counting requires a user to count everything within a bin  to ensure accuracy.


Bulk Purchase Order

Very few businesses create a Purchase Order for the exact amount they will receive. Bulk Purchase Orders allow a user to negotiate a better price for a larger purchase that is received in multiple receipts over a period of time. 

Challenges for BioTech

  • Traceability: looking for ways to keep track of the freshness of their products from a laboratory safety perspective and an efficiency perspective.
  • Accuracy and Visibility: better visibility into the warehouse with a boost in order and shipment accuracy. Purchasing Assistant keeps stock as demand shifts.
  • Management: track lab workers’ day-to-day activities, including the work they complete, and workforce’s performance.
  • Modernization: Laboratory Science companies are hindered by manual and paper based processes.
  • Inventory Control: Accurate inventory to reduce the need for full inventory counts, and allowing cycle counts without stopping fulfillment.

Schedule a Demo

Let us know what your biggest challenges are managing multiple sales channels today, and where you want to take your business. We will show you exactly how to bring everything into a single fulfillment and keep all of your systems on the same page.

Cannabidiol (CBD)


Carrying Costs


Catchweight


Consignment


Co-Manufacturer


Commercial Invoice


Co-Packer


Cost of Goods Sold (COGS)


Cube


Cycle Count

Days on Hand


Dimensions


Direct Move


Directed Pick


Direct Store Delivery (DSD)


Dropship

eCommerce


Electronic Data Interchange (EDI)


Expiry Date


Extensible Markup Language (XML)

The Future for Electronic Devices

  • Traceability: Automated RMA Serial validation for Warranty management.
  • Accuracy and Visibility: Better visibility into the warehouse with a boost in order and shipment accuracy. Purchasing Assistant keeps stock as demand shifts.
  • Management: Track warehouse workers’ day-to-day activities, including the work they complete, and workforce’s performance.
  • Modernization: Kick Google Sheets to the curb and shift from firefighting to data driven inventory planning.
  • Inventory Control: Accurate inventory to reduce the need for full inventory counts, and allowing cycle counts without stopping fulfillment.

Field Service


First In First Out (FIFO)


Forecasting


Full Truck Load (FTL)

Global Trade Item Number (GTIN)

Harmonized System Code (HS)

Intermec


Inventory Control


Inventory Management


Invoice


Item Number

Challenges for Food & Beverages

  • Traceability: looking for ways to keep track of the freshness of their products from a food safety perspective and an efficiency perspective.
  • Accuracy and Visibility: better visibility into the warehouse with a boost in order and shipment accuracy. Purchasing Assistant keeps stock as demand shifts.
  • Management: track warehouse workers’ day-to-day activities, including the work they complete, and workforce’s performance.
  • Modernization: Food and Beverage companies are hindered by manual and paper based processes.
  • Inventory Control: Accurate inventory to reduce the need for full inventory counts, and allowing cycle counts without stopping fulfillment.

Just In Time (JIT) Inventory

Kit in Distribution

Landed Cost


Last In First Out (LIFO)


Less Than Truck Load (LTL)


Let Down


License Plate


Lot

Manufacture Date


Matrix Inventory


Min Max

Challenges for Medical Devices

  • Traceability: Looking for ways to keep track of the freshness of their products from both safety and efficiency perspective.
  • Accuracy and Visibility: Better visibility into the warehouse with a boost in order and shipment accuracy. Purchasing Assistant keeps stock as demand shifts.
  • Management: Track workers’ day-to-day activities, including the work they complete, and the workforce’s performance.
  • Modernization: Medical Device distributors are hindered by manual and paper based processes.
  • Inventory Control: Accurate inventory to reduce the need for full inventory counts, and allowing cycle counts without stopping fulfillment.

Negative Inventory

Omnichannel

The Tools You Need For Success​ In Cannabis

  • Barcode scanning and printing
  • Track and trace of PackageID, Lot, Serial, Expiry & Manufacture Dates
  • eCommerce integrations to WooCommerce, Shopify, Magento, and PrestaShop
  • Powerful integrations to METRC, QuickBooks, and Sage Intacct
  • Real time multi-entity, multi-state, multi-license, multi-warehouse, multi-channel integrations
  • Kitting and light assembly
  • Backorder management and assisted replenishment
  • Shipping integrations to FedEx, UPS, Endicia, ShipStation, ShippingEasy, ProShip (65+ options)

Pack Slip


PackageID


Pallet Tag


Palletize


Periodic Inventory


Perpetual Inventory


Pick Ticket


Pick / Pack / Ship


Picking


Point of Sale (POS)


Production Line


Purchase Order


Put Away

QR Code

Radio Frequency Identifier (RFID)


Reorder Point


Retail


Return Material Authorization (RMA)


Replenishment


Routing

Safety Stock


Scanner


Schedule B


Serial


Shipper


Staging


Stock Keeping Unit (SKU)


Stock: Allocated, Available, Back Order, On Hand (QOH), On Order (QOO)


Supply Chain

Challenges for Consumer Goods

  • Too many systems 
  • Multi-Entity requirements 
  • Possible theft/shrink 
  • High employee turnover 
  • Multiple systems with little integration 
  • Multi-Channel need for inventory:
    • Delivery
    • eCommerce
    • B2B
    • Wholesale 

Tetrahydrocannabinol (THC)


Third-party logistics (3PL)

3PLs provide one or many of a variety of logistics-related services. Types of services would include public warehousing, contract warehousing, transportation management, distribution management, freight consolidation. A 3PL provider may take over all receiving, storage, value added, shipping, and transportation responsibilities for a client and conduct them in the 3PL’s warehouse using the 3PL’s equipment and employees, or may manage one or all of these functions in the client’s facility using the client’s equipment, or any combination of the above. Another term, 4PL is sometimes used to describe businesses that manage a variety of logistics related services for clients by using 3PLs.


Traceability


Transfers


Turnover

Unique Device Identifier (UDI)


Unit of Measure (UOM / U of M)


Universal Product Code (UPC)

Value Added Tax (VAT)


Vendor Managed Inventory (VMI)

Warehouse Management System


Wholesale


Will Call


Work in Process (WIP)


Work Order

X12

Yield

Schedule a Demo

Let us know what your biggest challenges are managing multiple sales channels today, and where you want to take your business. We will show you exactly how to bring everything into a single fulfillment and keep all of your systems on the same page.

Zebra


Zone

Access Anywhere

Your key data in sync, across systems, desktop, laptop, or mobile devices.

Barcode Scanning

Record the work real-time as its being done, barcode scanned, for speed & accuracy.

Shared Information

Effortless information sharing between the finance and operations teams.

Planning

Shift from scrambling to get orders out to data driven inventory planning.

How Can QStock Inventory Work In Your Business?

Sign up below to see how QStock Inventory can add visibility, traceability, and distribution workflows to your multiple Sales Channels.

What To Expect on the Call​

We know you probably have a number of questions about other integrations and industries that QStock Inventory works with or maybe want to see a demo. 

Here are the next steps:

  1. We want to answer your questions and understand your key initiatives.
  2. We will want to get an idea of the number of warehouses, items and entities.
  3. Go through your receiving and picking processes to see how you do things today and where you are trying to go.
  4. Learn about if Work Orders or Kitting is involved and to what degree.
  5. Plan a demonstration agenda together and schedule to show you how QStock Inventory will work in your business.

QStock Inventory

QStock offers Warehouse Control, Integrated Shipping, eCommerce, ASNs, Commercial Invoices, Customer Portal, Drop Ship, Lot & Serial Track and Trace, Work Order, with compliance label printing from FDA UDI compliance to SSCC-18 Labels.

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