inventory-tracking-systems

Vocabulary Word

Definition

'Inventory tracking systems' are digital tools that manage and track the amount and location of products or materials a business has. They update continuously to ensure the inventory levels are accurate.

Examples in Different Contexts

In Warehouse Technology, 'inventory tracking systems' use technology to monitor and manage the location and quantity of inventory in real time. A warehouse technology manager might say, 'Our inventory tracking system uses RFID tags to provide instant updates on stock levels.'

Practice Scenarios

Operations

Scenario:

Productivity has been low in the past few weeks. We need to investigate where the hold up is in the production line.

Response:

That's very important, let's review the data from our inventory tracking system to identify any potential bottlenecks.

Business

Scenario:

The holiday season is fast approaching and we need to be prepared for increased sales.

Response:

Excellent idea, let's utilize our inventory tracking system to anticipate customer demand and avoid stock shortages.