Define Floor Stock System

Also called back stock.

Define floor stock system.

Inventory on hand that has not yet been loaded onto shelves. Stock management may also be called stock control inventory management or inventory control. This extra stock allows a retail business to resupply store shelves and display counters in between reorder deliveries. The jobs on the shop that will use the item still show a requirement as the issue transaction has not taken place.

How to use floor in a sentence. The fierce competition in trading pits made things highly efficient but electronic trading has proved to be even. Open outcry was the primary method for how pit traders communicated trade orders. The mrp system logic is that the quantity of stock on the shops in the floor stock balance which is an inventory balance is added to the store balance before the netting calculation is per formed.

In other words stock management covers every aspect of a business s inventory. While the use of the term is slightly different in retailing than in manufacturing the core concept is. Drugs on the nursing station or ward may be divided in to. Stock management applies to every item a business uses to produce its products or services from raw materials to finished goods.

Why is stock management important. Floor definition is the level base of a room. Also known as back stock in some settings floor stock is a term used to identify inventory items that are used to replenish stock that is maintained on a store floor or in a designated area within a plant facility for use by employees without the need to make use of a requisition form. Under this system the drugs are given to the patient through the nursing station and the pharmacy supplies from the drug store of a hospital.

It is the portion of inventory that is generally left in boxes in the back storage area until needed up front for display. A floor stock system in a hospital involves the storage of pharmaceutical and over the counter drugs where they are needed usually in a nurse s station rather than in a pharmacy as explained on knowledge source. A charge floor stock drugs b non charge floor stock drugs.