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materials that are in transit, off-site, or held by a seller on consignment
distribution inventory
materials that have been processed in some way, but are not finished
work in progress
a complete list of materials or products in stock
inventory
materials that are purchased by a company to be processed or manufactured
raw materials
products sent to the seller with the agreement that payment will be made to the manufacturer only when the items are sold
consignment
a kind of production run where a small quantity of product is made often
short run
the process of replacing supplies that have been used, or putting new supplies into something
replenishment
the number of items in a batch
lot size
a kind of production run where a large quantity of goods are made over a long period of time
long run
the period of time from when a customer places an order to when a customer gets the order
lead time
the process of buying or using products
consumption