Key Terms - Stock Control Flashcards

1
Q

Buffer stocks

A

Stocks held as emergency stock incase there’s unexpected demand

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2
Q

Kanban

A

A card or an object that acts as a signal, to move or provide resources in a factory

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3
Q

Lead time

A

The time between placing the order and the order arriving

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4
Q

Re-order level

A

The level of current stock when new orders are placed

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5
Q

Re-order quantity

A

The amount of stock ordered when an order is placed

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6
Q

Stock rotation

A

The flow of stock, into and out of storage

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7
Q

Work-in-progress

A

Partly finished goods

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8
Q

Lean production

A

Using fewer resources in production and aiming to minimise waste

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