Agency Dictionary

Inventory

nounPronunciation: /ˈɪn.vən.tɔːr.i/

What does “Inventory” mean?

A complete itemized catalog or aggregate stock of raw materials, parts, works in progress, and finished goods held in custody by a business enterprise for production or commercial sale.

Etymology

From Middle English inventorie, from Medieval Latin inventorium, from Late Latin inventarium, "a list of what is found", from Latin invenire, "to find, to come upon", from in- ("in, upon") and venire ("to come"). The original sense was a detailed list of goods or property; the sense of the stock of goods itself came by extension.

Usage note

In business, inventory refers to the goods a company holds for sale. In law, an inventory is the formal listing of assets in an estate or trust.

Synonyms

stock
catalog
register
list
supply

Word family

invent
inventive
invention
inventor

Usage examples

Distributors, manufacturers, importers, and exporters use warehouses to catalogue, maintain, and centralize an inventory of finished and processed products from factories.

Concept

Global Supply ChainA global supply chain is an interconnected network of organizations, resources, activities, and technologies involved in creating and delivering a product across…

Source editions

Where this entry comes from in the Agency editorial.

Issue.24 - Boiling Red CobaltMay 17, 2024Read the edition

Words of the same theme

Consumernoun: An individual or group that acquires, purchases, or consumes physical or commercial goods and services for personal use. In marketing, consumers are studied for purchasing patterns and brand preferences.
stakeholdernoun: A person or group with an interest in a project or an organization and affected by its results, such as clients, managers, investors or users.
asynchronousadjective: Not occurring at the same time or coordinated simultaneously, describing workflows or interactions handled independently across time.
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Bottlenecknoun: A point of congestion or obstruction that impedes progress or restricts flow in a production or organizational system.
brokeragenoun: The business, activity, or fee of a licensed broker who facilitates commercial transactions between buyers and sellers.
Byproductnoun: A secondary, often unexpected result or incidental creation derived from an ongoing process or effort.
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commoditynoun: A basic primary good, agricultural staple, or raw material that is interchangeable with other goods of the same type.
consultantnoun: A professional who provides expert advice, diagnostic analysis, and strategic guidance in a specific discipline or industry.
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Also from these editions: terms

densitynoun: The quantity of mass, pixels, or information concentrated within a given unit of area or space.
Hardwarenoun: The physical, mechanical, and electronic components that constitute a computer system or digital electronic device. It contrasts with software, which provides intangible instructions and programs.
Homeostasisnoun: The state of steady internal, physical, and chemical conditions maintained by living systems or dynamic organizations through coordinated self-regulating physiological or operational adjustments.
Interconnectedadjective: Having all constituent parts or elements mutually connected, reciprocal, or interrelated in such a manner that changes in one directly affect the condition or behavior of the others.
Lobbynoun: An organized group of individuals or corporate representatives seeking to influence legislators, government officials, or public policies in favor of specific commercial or special interests.
Logisticsnoun: The detailed organization, planning, and practical implementation of complex operations involving the movement, transport, and maintenance of materials, goods, and personnel across distribution channels.
Mineralnoun: A naturally occurring inorganic solid substance characterized by a definite chemical composition and an ordered internal atomic structure. It is extracted by industrial or manual methods for metallurgy and manufacturing.
Rechargeableadjective: Capable of having its electrical chemical energy replenished repeatedly by passing an electric current through the cell in the reverse direction of its normal discharge cycle.
Smugglingnoun: The clandestine and illegal transport of goods, currency, persons, or natural commodities across jurisdictional borders to evade tariffs, customs controls, or legal bans.
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Warehousenoun: A large commercial building used for the organized storage, maintenance, and distribution of raw goods or manufactured inventory prior to shipment. It serves as a central hub in logistics operations.