Related term
Demand Amplification
A tendency observed in multi-step processes, in which the production orders received by each upstream process are more…
View termWhat is Inventory?
Materials (and information) present along a value stream between processing steps. Physical inventory is usually categorized by its position in the value stream and by its…
Meaning and application in management
Materials (and information) present along a value stream between processing steps. Physical inventory is usually categorized by its position in the value stream and by its purpose. Raw materials, work-in-process and finished goods are terms used to describe the position of inventory in the production process. Buffer stock, safety stock and shipping stock are terms used to describe the purpose of inventory.
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