inventory
IN-ven-tor-ee
/ˈɪnvənˌtɔːri/
A complete list of items such as property, goods in stock, or the contents of a building.
In business, it refers to raw materials, work-in-progress, and finished goods ready for sale.
The story behind the word. From the Latin 'invenire', meaning 'to come upon' or 'find'. An inventory was originally a list of things found in a deceased person's estate.
Word relationships
- stock: Stock usually refers to finished goods for sale; inventory includes raw materials and items in production.
- shortage: A lack of necessary goods or materials.
Commonly confused with
- repertory: A repertory is a collection of skills or performances; an inventory is a collection of physical objects.
Word family
- inventoried (verb): To make a list of items.
Collocations
- inventory management
- excess inventory
- just-in-time inventory
Idioms & expressions
- take inventory of
Example sentences
- "The store will be closed on Monday for our annual inventory count." Retail Operations
- "I will give out divers schedules of my beauty: it shall be inventoried, and every particle and utensil labelled to my will." Literature
Memory hook
You 'invent' a list of what you 'found' in the warehouse. Finding what's in stock.
When not to use
Do not confuse with 'invoice', which is a bill for goods.
Fun facts
- The 'Just-in-Time' (JIT) inventory system was pioneered by Toyota to minimize waste.
Related words
Explore more words
catalog, raw materials, production, manufacturing, asset, feedstock
Also appears in
- Engineering & Industrial Design → Supply Chain Engineering
- Environmental Policy & Sustainability Economics → Carbon Footprint & Emissions
- Food Science & Culinary Craft → Agricultural Supply Chains
- Home & Domestic Life → Moving & Relocation
- Shopping & Consumer Retail → Supermarkets & Groceries
- Shopping & Consumer Retail → Clothing Stores & Fitting Rooms
- Shopping & Consumer Retail → E-commerce & Online Shopping
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