A bin card, also known as a store card, is used in inventory management to track the receipts, issues, and balances of individual stock items. This card is attached to each bin or storage location to record inventory movement and maintain an accurate balance.
Dead stock refers to inventory that remains unsold for an extended period. This unsold inventory can result from factors such as changing consumer preferences, overstocking, or product obsolescence. Businesses often seek to identify and manage dead stock effectively to minimize storage costs and free up capital for more profitable inventory.
A distribution centre is a specialized warehouse typically operated by manufacturers to handle the bulk receipt and dispatch of goods to retailers.
A Materials Returns Note (MRN) is a document used in the inventory and supply chain management process to record the return of materials from production or other departments to the warehouse or storage location.
A physical stock check, similar to a physical inventory, involves manually verifying the quantities and condition of items in stock, ensuring accuracy between records and actual inventory.
A store requisition is a document generated by user departments or individuals in an organization to request raw materials or supplies from the store or warehouse. It facilitates the internal movement and management of inventory within a company.
