Truck ordering
a buffer for unforecasted demand, thawing lead time, and other gaps between physical on-hand and InFORM’s recorded
on-hand inventory.
Safety Stock
The system of counting different key items throughout the month instead of waiting to count at EOM
Cycle counting
This form is used to request credit
QIC
A single inventory Item will show up in multiple locations on this form
is the physical amount of each of the products in your Restaurant.
On hand Inventory
Is defined by Forecasted usage + Safety stock - On hand inventory - on order delivery =
Suggested order quantity
The two places waste can be recored
The POS and Inform
Order guide
provides system-generated ordering quantities for items on the order guide.
Suggested ordering
Is defined by (Recipe items sold + UPT items) / Number of business days between two counts
Average daily usage
Only completed inventory items can be wasted here
POS
Updated monthly at minimum
Travel path and order guide
The date from truck ordering until that ordered inventory is depleted.
Cover until date
Is defended by this equation Truck invoices - Waste + (transfers in - transfers out) + beginning inventory Counts - Ending Inventory)
UPT items
The three options available when viewing transfers
1. receive
2. push to tomorrow
3. Deny
A green variance indicates that InFORM’s on-hand is within......... %
5%
What is the most important concept in inventory management
Consistency