InventoryInventory (American English) or stock (British English) refers to the goods and materials that a business holds for the ultimate goal of resale, production or utilisation. Inventory management is a discipline primarily about specifying the shape and placement of stocked goods. It is required at different locations within a facility or within many locations of a supply network to precede the regular and planned course of production and stock of materials.
Inventory controlInventory control or stock control can be broadly defined as "the activity of checking a shop's stock". It is the process of ensuring that the right amount of supply is available within a business. However, a more focused definition takes into account the more science-based, methodical practice of not only verifying a business's inventory but also maximising the amount of profit from the least amount of inventory investment without affecting customer satisfaction.
Inventory turnoverIn accounting, the inventory turnover is a measure of the number of times inventory is sold or used in a time period such as a year. It is calculated to see if a business has an excessive inventory in comparison to its sales level. The equation for inventory turnover equals the cost of goods sold divided by the average inventory. Inventory turnover is also known as inventory turns, merchandise turnover, stockturn, stock turns, turns, and stock turnover.
Inventory management softwareInventory management software is a software system for tracking inventory levels, orders, sales and deliveries. It can also be used in the manufacturing industry to create a work order, bill of materials and other production-related documents. Companies use inventory management software to avoid product overstock and outages. It is a tool for organizing inventory data that before was generally stored in hard-copy form or in spreadsheets.
Vendor-managed inventoryVendor-managed inventory (VMI) is an inventory management practice in which a supplier of goods, usually the manufacturer, is responsible for optimizing the inventory held by a distributor. Under VMI, the retailer shares their inventory data with a vendor (sometimes called supplier) such that the vendor is the decision-maker who determines the order size, whereas in traditional inventory management, the retailer (sometimes called distributor or buyer) makes his or her own decisions regarding the order size.
Old-growth forestAn old-growth forest, sometimes synonymous with primary forest, virgin forest, late seral forest, primeval forest, first-growth forest, or mature forestis a forest that has attained great age without significant disturbance, and thereby exhibits unique ecological features, and might be classified as a climax community. The Food and Agriculture Organization of the United Nations defines primary forests as naturally regenerated forests of native tree species where there are no clearly visible indications of human activity and the ecological processes are not significantly disturbed.
HabitatIn ecology, habitat refers to the array of resources, physical and biotic factors that are present in an area, such as to support the survival and reproduction of a particular species. A species habitat can be seen as the physical manifestation of its ecological niche. Thus "habitat" is a species-specific term, fundamentally different from concepts such as environment or vegetation assemblages, for which the term "habitat-type" is more appropriate. The physical factors may include (for example): soil, moisture, range of temperature, and light intensity.
Forest standA forest stand is a contiguous community of trees sufficiently uniform in composition, structure, age, size, class, distribution, spatial arrangement, condition, or location on a site of uniform quality to distinguish it from adjacent communities. A forest is a "collection of stands" also utilizing the practices of forestry. Stand level modelling is a type of modelling in the forest sciences in which the main unit is a forested stand. A forest stand is commonly described as in 10ths or 10%s.
Pioneer speciesPioneer species are hardy species that are the first to colonize barren environments or previously biodiverse steady-state ecosystems that have been disrupted, such as by wildfire. Some lichens grow on rocks without soil, so may be among the first of life forms, and break down the rocks into soil for plants. Since some uninhabited land may have thin, poor quality soils with few nutrients, pioneer species are often hardy plants with adaptations such as long roots, root nodes containing nitrogen-fixing bacteria, and leaves that employ transpiration.
North AmericaNorth America is a continent in the Northern Hemisphere almost entirely within the Western Hemisphere. North America is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Caribbean Sea, and to the west and south by the Pacific Ocean. The region includes Canada, the Caribbean, Central America, Greenland, Mexico, and the United States. North America covers an area of about , representing approximately 16.5% of the Earth's land area and 4.
