STOCKOUT Definition

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STOCKOUT is running out of inventory, e.g. the demand or requirement for an item(s) cannot be fulfilled from existing inventory.

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RUNNING TOTAL is the sum of any given set of numbers that is incremented/decremented as additional numbers become available over time. For example, a retail store makes sales throughout a time period; the running total is the sum of their sales, including returns/credits, at any given point of time during that time period: day, week, month, quarter, and year.

INCORPORATION is a legal process through which a company receives a charter and the state in which it is based allows it to operate as a corporation.

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