Stock Control Flashcards
1
Q
What is stock?
A
Inventories that are raw materials, work-in-progress, finished goods held by a business
2
Q
What is stock control?
A
The process and controls used by a business to ensure that it has sufficient stock for its purposes.
3
Q
What is buffer stock?
A
The minimum level of inventory a business aims to hold.
4
Q
What is lead time?
A
The time it takes for the re-order to arrive.
