Industry Terms Terms and Definitions
GS1 standards are a foundation for business by uniquely identifying, accurately capturing and automatically sharing information about products, locations, and assets in a uniform way.
2D symbology is a two-dimensional matrix that has a pattern of elements that carries information in two directions: vertically and horizontally. Matrix symbols can encode hundreds of times as much data as linear barcodes.
A warehouse management system (WMS) is a software solution that helps manage the operations of a warehouse or distribution center. They ensure that goods and materials move through warehouses in the most efficient and cost-effective way. A warehouse management system handles many functions that enable these movements, including inventory management, order picking, replenishment, packing, put-away, shipping and wave planning.
A warehouse control system (WCS) is a type of software that directs the real-time activities within warehouses and distribution centers. It integrates with the WMS (warehouse management system) in order to keep everything running smoothly and maximize the efficiency of the material handling subsystems.
Routing guides are documents published by retailers that establish a set of rules and requirements for shipping products from suppliers to retail locations and customers. Routing guides hold shippers responsible for the details of the shipment for inbound and outbound freight.
The bill of quantities (BOQ) is a contract document that contains a list of materials and workmanship involved in a construction project. It is necessary for properly pricing a project.
A building information modeling (BIM) system is an extensive set of drawings, control systems, etc. that in total provide information about a building including the systems & equipment therein as well as mechanicals, architectural drawings, HVAC, MHE, bills of materials, control systems, dashboard status, etc
Inventory days on hand (DOH) is a business performance indicator that measures how long it takes a company to sell its inventory. Knowing this metric gives retailers a better understanding of operational performance. This data can also help retailers detect supply chain issues, improve efficiency, and predict storage costs.
Slow-moving inventory, or slob stock, is a classification for inventory whereby the current cases on hand exceed projected sales and are unlikely to be sold based on forecasts prior to the product’s expiration date. Simply put, it is excess product. For example, if a manufacturer produced 1,000 cases of a product that expire in a year, and they’ve only sold 30 cases in the first three months following production, this is slow-moving inventory.
Detention in the contact of supply chain terms is a shipper’s fee charged when a truck is not loaded within a certain time frame, which holds up the truck at the warehouse or processing plant.