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complete listing of all the merchandise that the retailer owns
total inventory or shelf life
total inventory
refers to the face to face interaction between a sales associate and a customer
publicity or personal selling
personal selling
a system of numbers that uniquely identifies bulk produce items on which it may be difficult to apply a barcode
PLU or shrink
PLU. (price look up)
retailer systems that specify the amount of inventory in a store, ID how much inventory was sold, track the price and pass info to ordering systems
inventory tracking systems or Point of sale systems
inventory tracking systems
the behind the scenes area in a store where inventory is kept that does not fit on the shelves.
stocking or stockroom
stockroom
teams that are responsible for selling and visual merchandising
human resources or sales
sales
the process of matching the invoiced quantity to the actual products delivered.
on hand inventory or receiving
receiving
the system used when a customer purchases an items, typically at checkout lane
Point of sale or excess inventory
point of sale (POS)
tags containing electronically stored info that identify objects
RFID or Barcode
RDIF (radio frequency id)
a machine-readable series of parallel lines that create a unique item id
RFID or barcode
barcode
Extra inventory kept on hand in case customers buy more than the estimated amount before the next shipment arrives
out of stock or safety stock
safety stock
when there are fewer items in stock than in the total inventory record indicates there are.
shrink or out of stock
shrink
includes shorter term activities that offer an incentive for customers to make a purchase
sales promotion or advertising
sales promotion
number of units within the total inventory available to sell.
safety stock or on hand inventory
on hand inventory
aimed at specific customers and its goal is to get the customer to take action, by order a product, visit a store or clip a coupon
direct marketing or personal selling
direct marketing
the situation occurs when customer did not buy as much of a product as estimated
excess inventory or shrink
excess inventory
attention given to something or someone by the media
publicity or sales promotion
publicity
the process of placing inventory on sales floor shelves, racks or other displays to be sold
stocking or safety stock
stocking
producing paid advertisements for commercial products and services
media or advertising
advertising
the situation occurs when customers have purchased more of a product than the company estimated and item is sold out.
excess inventory or out of stock
out of stock
teams are responsible for serving customers who wish to check out, return items
operations or customer services
customer services
the process of automatic or manual ordering to meet product demands.
excess inventory or inventory replenishment
inventory repleshment
teams often work "behind the scenes" in roles supporting inventory management functions
sales or operations
operations
team support the people needs of the store such as hiring , training implementing and benefits administrations.
human resources or customer service
human resources
team is dedicated to safety, security and minimizing profit loss
sales or loss prevention
loss preention