Inventory Replenishment Systems
Automated or manual processes for restocking inventory at retail locations based on sales data and stock levels.
Implications
Automated or manual processes used to restock inventory as it is sold or used, ensuring that the right amount of stock is maintained to meet demand without overstocking, often used in retail, manufacturing, and distribution.
Example
Example: A grocery chain implements an inventory replenishment system that automatically orders fresh produce based on real-time sales data, ensuring that shelves are always stocked without leading to excess waste.
Related Terms
Different from inventory management, which involves the overall strategy and practices for handling inventory, replenishment systems specifically focus on the processes for restocking items as needed.
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