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An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Products manufactured by one company for sale under another company's brand. Often seen in fashion retail as in-house brands exclusive to a retailer.

A calculation that compares the amount of inventory a retailer receives from a vendor to what is actually sold to the customer.

An omnichannel retail strategy that allows customers to purchase products online and pick them up in the physical store.

A reduction in the list price granted by wholesalers or manufacturers to the retail buyers, often determined by quantity or relationship.

A visual diagram that details where every product in a retail store should be placed. It maximizes sales and gives a pleasant shopping experience.

Inventory that has never been sold to or used by customers, often because it is out of date or out of season, resulting in a loss for the company.

A method of evaluating two or more measured events to compare the results at one time period with those from another, identical or similar period on an annualized basis.

A measure of how often inventory is sold and replaced over a specific period. Higher turnover indicates more sales and efficiency in selling inventory.

The practice of developing floor plans and three-dimensional displays in order to maximize sales and give customers an exciting shopping experience.

A product sold at a loss to attract customers with the expectation that once inside the store, customers will make additional purchases.

The retail practice of displaying products from different categories together, to encourage customers to purchase complementary items.

The use of radio waves to read and capture information stored on a tag attached to an object, commonly used for inventory tracking in retail.

A movement and process fostering change to fashion products and the fashion system towards greater ecological integrity and social justice.

The budget plan for merchandising that shows the amount of money that can be spent on new inventory after considering the current inventory and sales.

A unique code consisting of letters and numbers that identify a product. It allows retailers to track the inventory of each product.

A design, manufacturing, and marketing method focused on rapidly producing high volumes of clothing, often replicating latest trends and high-fashion designs.

Merchandising that changes with the seasons, including the rotation and promotion of seasonal items to correspond with weather changes or holidays.

A multichannel approach to sales that seeks to provide customers with a seamless shopping experience, whether they're shopping online or offline.

A sales technique whereby a seller induces the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue.

The amount added to the cost of a product to determine the selling price. It's expressed as a percentage over the cost.

The process of selecting the variety of products that will be on offer in different categories, to cater to different customer tastes and demands.

The sale of goods in bulk to retailers, who then sell them in smaller quantities to the end-user at a higher price, usually with added value or services.

The loss of inventory due to theft, damage, or errors in the retail business. It's important to minimize to improve profitability.