Meaning & Definition of word "Inventory"

Inventory

/ˈɪnvəntɔːri/

1. A complete list of items such as goods in stock or contents of a building.
- Example: The store conducted an inventory to count all the items on the shelves.
2. The raw materials, work-in-progress products, and finished goods that are considered to be a portion of a business's assets.
- Example: The company had to adjust its inventory levels to meet the increasing demand.
3. A detailed, itemized list of personal property or assets.
- Example: Before moving, she created an inventory of all her belongings.

1. To make a complete list of items or stock in a store or warehouse.
- Example: The manager asked the employees to inventory the remaining supplies.
2. To assess or evaluate the contents and condition of something.
- Example: They decided to inventory the old equipment to determine what could be sold or donated.

From Latin 'inventarium', meaning a list of items found.

inventory turnover:

A measure of how quickly inventory is sold and replaced.

inventory management:

The aspect of supply chain management that oversees the ordering, storage, and use of components.

stock inventory:

A classification of the inventory that includes all the goods available for sale.

stocktake:

The process of counting items in stock.

supply chain:

The entire system of production, processing, and distribution of goods.

ledger:

A book or other collection of financial accounts.

Meaning: Inventory check

Example Sentence: We're doing an inventory check to see what we have left.

Meaning: Doing inventory

Example Sentence: I’ll be doing inventory this weekend to get everything sorted.