Inventory and stock control Flashcards
1
Q
A
2
Q
Max stock level
A
maximum amount of stock a company keeps
3
Q
Buffer stock
A
minimum amount of stock a company keeps
4
Q
Re-order level
A
when a company contacts a supplier to get a delivery/restock
5
Q
Lead time
A
the time between order placed for inventory and it actually arriving
6
Q
Re-order quantity
A
amount of stock ordered from supplier (Max stock - buffer stock)
