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Financial Terms | |
Just-in-time inventory systems |
Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
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Definition of Just-in-time inventory systemsJust-in-time inventory systemssystems that schedule materials/inventory to arrive exactly as they are
Related Terms:ABC inventory classificationA method for dividing inventory into classifications, Adjustable rate preferred stock (ARPS)Publicly traded issues that may be collateralized by mortgages and MBSs. Adjusted Cash Flow Provided by Continuing OperationsCash flow provided by operating Adjusted EarningsNet income adjusted to exclude selected nonrecurring and noncash items of reserve, gain, expense, and loss. Adjusted EBITDAConventional earnings before interest, taxes, depreciation, and amortization (EBITDA) revised to exclude the effects of mainly nonrecurring items of revenue or gain and expense or loss. Adjusted Income from ContinuingOperations Reported income from continuing operations Adjusted present value (APV)The net present value analysis of an asset if financed solely by equity ![]() Adjusting entriesThe entries needed at the end of an accounting period to properly state certain account balances. Average-Cost Inventory MethodThe inventory cost-flow assumption that assigns the average Average inventoryThe beginning inventory for a period, plus the amount at the end of Blanket inventory lienA secured loan that gives the lender a lien against all the borrower's inventories. Book inventoryThe amount of money invested in inventory, as per a company’s Break-even timeRelated: Premium payback period. Cash flow time-lineLine depicting the operating activities and cash flows for a firm over a particular period. Cumulative-Effect AdjustmentThe cumulative, after-tax, prior-year effect of a change in accounting Cumulative Translation Adjustment (CTA) accountAn entry in a translated balance sheet in which gains cycle timethe time between the placement of an order to Days' sales in inventory ratioThe average number of days' worth of sales that is held in inventory. Distribution inventoryinventory intended for shipment to customers, usually dollar days (of inventory)a measurement of the value of inventory for the time that inventory is held Electronic Federal Tax Payment Systems (EFTPS)An electronic funds transfer system used by businesses to remit taxes to the government. employee time sheeta source document that indicates, for each employee, what jobs were worked on during the day and for what amount of time Ending inventoryThe dollar value or unit total of goods on hand at the end of an Finished goods inventoryGoods that have been completed by the manufacturing Finished goods inventoryCompleted inventory items ready for shipment to First-In, First-Out (FIFO) Inventory MethodThe inventory cost-flow assumption that Fluctuation inventoryExcess inventory kept on hand to provide a buffer against Hedge inventoryExcess inventories kept on hand as a buffer against contingent idle timethe amount of time spent in storing inventory or In-transit inventoryinventory currently situated between its shipment and delivery Inactive inventoryParts with no recent prior or forecasted usage. inspection timethe time taken to perform quality control activities InventoryFor companies: Raw materials, items available for sale or in the process of being made ready for InventoryGoods bought or manufactured for resale but as yet unsold, comprising raw materials, work-in-progress and finished goods. InventoryThe cost of the goods that a company has available for resale. InventoryGoods that a firm stores in anticipation of its later sale or use as an input. InventoryThe cost of unsold goods that are held for sale in the ordinary course of business or InventoryThose items included categorized as either raw materials, work-inprocess, Inventory adjustmentA transaction used to adjust the book balance of an inventory Inventory DaysThe number of days it would take to sell the ending balance in inventory at the Inventory diversionThe redirection of parts or finished goods away from their intended Inventory issueA transaction used to record the reduction in inventory from a location, Inventory loanA secured short-term loan to purchase inventory. The three basic forms are a blanket Inventory receiptThe arrival of an inventory delivery from a supplier or other Inventory returnsinventory returned from a customer for any reason. This receipt inventory shrinkageA term describing the loss of products from inventory Inventory ShrinkageA shortfall between inventory based on actual physical counts and inventory Inventory turnoverThe ratio of annual sales to average inventory which measures the speed that inventory INVENTORY TURNOVERThe number of times a company sold out and replaced its average stock of goods in a year. The formula is: Inventory turnoverThe number of times per year that an entire inventory or a Inventory TurnoverRatio of annual sales to inventory, which shows how many times the inventory of a firm is sold and replaced during an accounting period. inventory turnover ratioThe cost-of-goods-sold expense for a given Inventory Turnover RatioProvides a measure of how often a company's inventory is sold or inventory write-downRefers to making an entry, usually at the close of a judgmental method (of risk adjustment)an informal method of adjusting for risk that allows the decision maker just-in-time (JIT)a philosophy about when to do something; Just-in-time (JIT)A cluster of manufacturing, design, and delivery practices designed to Just-in-time manufacturingThe term for several manufacturing innovations that just-in-time manufacturing systema production system that attempts to acquire components and produce inventory only as needed, to minimize product defects, and to just-in-time traininga system that maps the skill sets employees Last-In, First-Out (LIFO) Inventory MethodThe inventory cost-flow assumption that assigns the most recent inventory acquisition costs to cost of goods sold. The earliest inventory lead timesee cycle time Market timerA money manager who assumes he or she can forecast when the stock market will go up and down. Maximum inventoryAn inventory item’s budgeted maximum inventory level, MERCHANDISE INVENTORYThe value of the products that a retailing or wholesaling company intends to resell for a profit. Minimum inventoryAn inventory item’s budgeted minimum inventory level. Moving average inventory methodAn inventory costing methodology that calls for the re-calculation of the average cost of all parts in stock after every purchase. Net adjusted present valueThe adjusted present value minus the initial cost of an investment. Net inventoryThe current inventory balance, less allocated or reserved items. Obsolete inventoryParts not used in any current end product. Option-adjusted spread (OAS)1) The spread over an issuer's spot rate curve, developed as a measure of OvertimeA pay premium of 50 percent of the regular rate of pay that is earned Periodic inventoryA physical inventory count taken on a repetitive basis. Periodic inventory systemAn inventory system in which the balance in the inventory account is adjusted for the units sold only at the end of the period. Perpetual inventoryA system that continually tracks all additions to and deletions Perpetual inventoryA manual or automated inventory tracking system in which Perpetual inventory systemAn inventory system in which the balance in the inventory account is adjusted for the units sold each time a sale is made. Physical inventoryA manual count of the on-hand inventory. Price AdjusterA firm that reacts to excess supply or excess demand by adjusting price rather than quantity. Contrast with quantity adjuster. processing timethe actual time consumed performing the Quantity AdjusterA firm that reacts to excess supply or excess demand by adjusting quantity rather than price. Contrast with price adjuster. Raw materials inventoryThe total cost of all component parts currently in stock that Real timeA real time stock or bond quote is one that states a security's most recent offer to sell or bid (buy). Reconciling inventoryThe process of comparing book to actual inventory balances, Risk-adjustedreturn Return earned on an asset normalized for the amount of risk associated with that asset. risk-adjusted discount rate methoda formal method of adjusting for risk in which the decision maker increases the rate used for discounting the future cash flows to compensate for increased risk Risk-adjusted profitabilityA probability used to determine a "sure" expected value (sometimes called a Seasonal AdjustmentAdjustment to correct measures for changes that happen for seasonal reasons. Seasonal inventoryVery high inventory levels built up in anticipation of large service timethe actual time consumed performing the functions Surplus inventoryParts for which the on-hand quantity exceeds forecasted Time ClockA device used to stamp an employee’s incoming or outgoing time Time decayRelated: theta. Time depositInterest-bearing deposit at a savings institution that has a specific maturity. Time DepositSee term deposit. Time draftDemand for payment at a stated future date. Time premiumAlso called time value, the amount by which the option price exceeds its intrinsic value. The Time to maturityThe time remaining until a financial contract expires. Also called time until expiration. Time until expirationThe time remaining until a financial contract expires. Also called time to maturity. Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit. |