Inventory Glossary - S
S
- safety stock
- Quantity of stock planned to have in inventory to protect against fluctuations in demand and/or supply.
- Safety Stock (item attribute)
- An item attribute the planning process uses to decide whether to use fixed or dynamically calculated safety stock quantities when planning material requirements for the item. A value of MRP-planned percent means the planning process plans to safety stock quantities it calculates dynamically as a user-defined percentage of the average gross requirements for a user-defined number of days. The user-defined percentage is defined by the value you enter for the Safety Stock Percent attribute for the item. For discretely planned items, the user-defined number of days is defined by the value you enter for the Safety Stock Bucket Days attribute for the item. For repetitively planned items, the planning process uses the repetitive planning period rather than Safety Stock Bucket Days. These safety stock quantities are dynamic in that they vary as a function of the average gross requirements calculated by the planning process for the item. A value ofNon-MRP planned means the planning process plans to safety stock quantities calculated and maintained in Inventory. These safety stock quantities are fixed in that the Snapshot loads them from Inventory before the planning process and they do not vary unless they are recalculated in Inventory.
- seasonality
- Repetitive pattern from year to year with demand for some periods considerably higher than others.
- serial number
- A number assigned to each unit of an item and used to track the item.
- serial number control
- A manufacturing technique for enforcing use of serial numbers during a material transaction.
- serialized unit
- The unique combination of a serial number and an inventory item.
- service level
- Percentage of demand that can be filled immediately by available inventory. It is used to determine the amount of inventory to carry as safety stock.
- service material
- Material used for the repair and/or maintenance of an assembled product.
- set of books
- A financial reporting entity that partitions General Ledger information and uses a particular chart of accounts, functional currency, and accounting calendar. This concept is the same whether or not the Multi-organization support feature is implemented.
- shelf life
- The amount of time an item may be held in inventory before it becomes unusable.
- standard bill of material
- A bill of material for a standard item, such as a manufactured product or assembly.
- standard costing
- A costing method where a predetermined standard cost is used for charging material, resource, overhead, period close, job close, and cost update transactions and valuing inventory. Any deviation in actual costs from the predetermined standard is recorded as a variance.
- standard item
- Any item that can have a bill or be a component on a bill except planning items, option classes, or models. Standard items include purchased items, subassemblies, and finished products.
- standard purchase order
- A type of purchase order you issue when you order delivery of goods or services for specific dates and locations for your company. Each standard purchase order line can have multiple shipments and you can distribute the quantity of each shipment across multiple accounts. See purchase order
- statistical forecasting
- A mathematical analysis of past transaction history, last forecast quantities, and/or information specified by the user to determine expected demand.
- subinventory
- Subdivision of an organization, representing either a physical area or a logical grouping of items, such as a storeroom or receiving dock.
- substitute item
- An item that can be used in place of a component. Master Scheduling/MRP suggests substitutes items on some reports.
- supplier
- Provider of goods or services.
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