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APICS DSP 2012 - Term Definition Manufacturing Inventory...

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Term: Manufacturing Inventory Definition: Sub Assemblies in stock Sub Assemblies in process Raw Materials Term: Inventory Carrying Costs Definition: Opportunity (Capital) Cost Storage Costs Risk Costs Term: Distribution Inventory Definition: includes shippable products Term: Causes Inventory Shrinkage Definition: Unrecorded Scrap Theft Shelf Life Expires Term: ERP Definition: Enterprise Resource Planning
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Term: Obsolete Inventory should be Definition: Expensed throughout year and adjusted when necessary for actual obsolescence. Term: Needed to Calculate Safety Stock Definition: Customer Service Levels
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