inventory-reconciliation

Vocabulary Word

Definition

'Inventory-reconciliation' is a process of matching physical stocks with recorded numbers in system. Like checking a list of your school supplies against what you actually have in your bag.

Examples in Different Contexts

In Retail Operations, 'inventory reconciliation' is conducted to ensure sales data aligns with stock levels. A store manager might mention, 'We perform inventory reconciliation monthly to correct any inventory inaccuracies and improve order accuracy.'

Practice Scenarios

Retail

Scenario:

Post-Black Friday sales, it's crucial we verify what's left on our shelves.

Response:

Noted. Let's start inventory reconciliation tomorrow morning to accurately determine remaining stocks.

Logistics

Scenario:

Since we've processed a lot of orders recently, we need to recheck our cargo supplies.

Response:

A comprehensive inventory reconciliation would indeed help us maintain accuracy in our supply monitoring.