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Inventory Glossary

BOM Bill of Material

CM Conditions Monitoring

CMMS Computerized Maintenance Management System

CTR Cycle Time Ratio

DIFOT Delivery In-Full On-Time

DR Demand Rate

EOL End-of- Life

EOQ Economic Order Quantity

ERP Enterprise Resource Planning

E-SPIR Electronic Spare Parts Interchangeability Record

FIFO First In First Out

FMCG Fast-Moving Consumer Goods

FPY First Pass Yield

GU Good Units

KPI Key Performance Indicator

LIFO Last In First Out

LSA Logistics Support Analysis

LT Lead Time

LTB Last Time Buy

MMS Maintenance Management System

MOC Management of Change

MOQ Minimum Order Quantity

MRO Maintenance Repair and Operations

MRP Material Requirements Planning

MBF Mean Time Between Failure

NSC NATO Stock Classification

NSN NATO Stock Number

OEE Overall Equipment Effectiveness

OFCT Order Fulfillment Cycle Time

OOS Out-of- Stock

PY Process Yield

QL Quality Losses

ROP Re-Order Point

ROQ Re-Order Quantity

S&OP Sales and Operations Planning

SCM Supply Chain Management

SIN Short Item Number

SKU Stock Keeping Unit

SN Serial Number

SPIL Spare Parts Interchangeability List

SPIR Spare Parts Interchangeability Record

TEEP Total Effective Equipment Performance

TCO Total Cost of Ownership

UOM Unit of Measure

UPC Universal Product Code

VMI Vendor Managed Inventory

WACC Weighted Average Cost of Capital

WIP Work-In- Process