Stock turn, stock turnover or inventory turn all refer to the average number of times stock is replaced in a year. The total value of issues is divided by the average stock value in the period. In general, the higher the figure the better, as the stores’ overheads are amortised over a greater value of stock. A low stock turnover can indicate the line is held as a contingency, or that stock levels are excessive because demand has fallen or the line has become obsolete.
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With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
