Stock Flashcards
1
Q
What is a buffer stock?
A
stock held to cope with unforeseen demand
2
Q
what does kanban mean?
A
a card or object that is a signal to move or provide resources to a factory
3
Q
what does lead time mean?
A
the time between ordering and receiving supplies
4
Q
what is the re-order level?
A
the level of current stock when new orders are placed
5
Q
what is re-order quantity?
A
the amount of stock ordered when an object is placed
6
Q
what is stock rotation?
A
the flow of stock in and out of storage
7
Q
what does work in progress mean?
A
a partially finished product/good
