StockID GLOSSARY OF TERMS

StockID GLOSSARY OF TERMS


Location

A Location represents a place where inventory can be stored, managed, or transacted within the system. Locations are used to organize inventory and can be structured in a hierarchical relationship to reflect physical layouts and/or operational groupings. 

Parent Location

A Parent Location is a location that can exist at a higher level within the location hierarchy and contain or organize one or more subordinate (Child) locations.  

Child Location 

A Child Location is a location that exists beneath a Parent location within the hierarchy.  
Notes
Only locations at the bottom of the hierarchy can hold inventory. 

Replenishment Location 

 A Replenishment Location defines a sourcing relationship between locations, specifying where inventory should be obtained to restock another location. Can be one or more locations with a priority to indicate the order the locations should be checked for replenishment inventory. A replenishment location can be a Parent or a Child location. In the event it is a parent location, the system will take into account the inventory stored in all the Children locations.  

Ship-To Location

A location where inventory can be shipped to. This can be the child or the parent, just have a physical address associated to it. 

Item 

An Item is a distinct product that is tracked in inventory. Items may represent individual units or grouped quantities based on how they are packaged, stored, or sold. Items examples include Box of Small Gloves, Vial of Botox, Case of Botox Vials. 

SKU (Stock Keeping Unit) 

A SKU is a unique alphanumeric identifier assigned to a specific product or item. It is used to distinguish products for tracking, ordering, and reporting purposes. 

Unit of Measure (UOM) 

The unit of measure establishes the basis by which an item is counted, weighed, or measured. It establishes how an item is recorded on a bill of materials, purchase order, or how it is recorded in inventory. The system follows the EDI x12 Unit of Measure convention.  Examples include Each, Box, Case, Pallet, etc. 

Unit Conversion 

Unit Conversion defines the relationship between different units or packaging levels of the same item, enabling inventory to be tracked and managed across a hierarchy of units. For example, you receive a pallet of gloves, on that pallet is (50) cases of gloves, and each case contains (ten) boxes. To accurately track, receive and remove inventory at all levels, you would utilize different unit conversions. In the prior example those conversions would be Pallet > Case > Box > Individual Unit 

Tracked Elements 

Tracked Elements are configurable attributes that enable additional levels of tracking and traceability for an item. These elements allow inventory to be managed with greater detail by capturing specific identifying or time-sensitive information associated with each unit or group of units. 

Tracked Elements within StockID: 
    1. Expiration Date: Tracks the expiration date associated with an item. 
    2. Lot Tracking: Tracks inventory by lot number, allowing quantities to be associated with specific production or sourcing batches.
    3. Serial Number:  Tracks inventory at the individual unit level using unique serial numbers
Note** Some organizations interchange Lot and Batch Number 

Item Category 

An Item Category is a way of organizing and grouping items based on shared characteristics or attributes. Item categories can be arranged in a hierarchical structure, allowing broader categories to contain more specific subcategories.  

An example of a category hierarchy is you have Injectables, of which you want to track four different kinds of Biostimulators, Deoxycholic Acid, Dermal Fillers, and Neuromodulators. Then under Dermal Fillers you have one additional subcategory Hyaluronic Acid.  

Item Inventory Target Quantities 

Item Inventory Target Quantities define the desired stock levels for a specific item at a given location. These targets help maintain appropriate inventory levels by guiding replenishment and preventing stock outs or overstocking. The customer can specify the following target quantities: 

    1. Minimum Quantity - The lowest acceptable quantity before inventory is considered critically low. 
    2. Reorder Quantity - The threshold at which replenishment should be triggered to restock the item. 
    3. Ideal Quantity - The optimal or maximum desired quantity to maintain for efficient operations. 

The customer can also indicate if the target quantities should sum up the quantities of the specified location of descendants when checking the targets. For example, assume a customer has a location called “Office” that has two child locations “Storage Room” and “Cabinet”. When the customer sets the target quantity at a parent location, the system will automatically consider the inventory present at all its Children location for its target quantity conditions. 

Floating Quantity

Floating Quantity allows inventory to be tracked at a summarized level when items are systematically broken down into smaller increments. This is useful when the exact packaging or unit structure becomes less relevant, and the remaining quantity is desired. For example, you may track Botox as vials while in storage. However, once those vials are moved into a procedure room and begin to be used, tracking the individual vial may no longer be necessary. Instead, the system can track the total remaining units in the procedure room rather than how many vials. By defining a floating quantity, the system allows inventory to be represented in a more flexible, aggregated form rather than strictly tied to its original unit or packaging level.

Access Management 

Access Management defines how users interact with the system by controlling authentication, authorization, and visibility based on assigned roles, permissions, and group memberships. 

User 

An individual within the system identified by an email and First and Last Name who can take actions based on their assigned permissions. 

Role 

A Role is a collection of permissions assigned to a user. These roles can align with job functions such as Admin, Operations, and View Only. A role can be assigned to multiple users or groups across the platform.  

Permission 

A Permission specifies what actions a user is allowed to perform. It controls granular access levels (View, Create, Edit, Delete). You can assign permissions to Roles.  

Group 

A Group is a collection of configurations used to manage access efficiently by bundling roles, permissions, notifications, and/or location visibility. This can simplify that administrative burden by reducing the need for individual user configuration; rather you can assign a User to Groups, so they inherit the predefined access settings. For example, a group may be created for users who should only access inventory within a specific set of locations.  

Notification 

A Notification is an alert or message that can be sent to individual users, groups of users, or external contacts to communicate important information or system events. They may be delivered through multiple channels, including In-application alerts, Email, and SMS Text messaging. 

Inventory 

Inventory represents the quantity of a specific item that exists within the system. Inventory can be viewed at different levels of detail, including Total Inventory across all locations, Location specific inventory, or based on filters applied such as status, lot, expiration date, etc. 

Global Inventory Insights 

Global Inventory Insights provides a high-level summary of inventory health and system-wide performance. These metrics help users quickly identify risks, trends, and opportunities for action. 

Provides high level information of the system including: 
  1. Total Active SKUs – total count of SKUs that have an active global status 
  2. Low/Critical Stock
    1. Low stock - when the on-hand inventory is within 20% of the minimum level
    2. Critical - when the on-hand inventory is at or below the minimum level 
  3. Expiry
    1. Expiring - when one or more item quantities on-hand are within the following buckets of days of expiration:
      1. 1-30
      2. 31-60
      3. 61-90
    2. Expired - when one or more item quantities on hand have already expired
  4. Surplus - when the on-hand inventory is 15% or more above the ideal level 

Inventory Health

Inventory Health provides visibility into stock conditions at the location level, helping users identify potential risks related to stock levels and product expiration. 

Provides location level information on the following: 

  1. Low/Critical Stock 

    1. Low stock - when the on-hand inventory is within 20% of the minimum level 
    2. Critical - when the on-hand inventory is at or below the minimum level 

  2. Expiry 

    1. Expiring - when one or more item quantities on-hand are within 30-days of expiration 
    2. Expired - when one or more item quantities on-hand have already expired 

Transactions

Restock List 

A restock list is a report that can be generated from the inventory screen and used in external purchasing systems to facilitate the replenishment of inventory at a given location. The restock list will include SKU, Item Name, and Quantity Needed, which is driven from the items Target Quantity. 

Shipments 

The shipments list displays all receiving transactions recorded across all locations within the system. This list will include SKU, Item Name, Quantity Received, and Tracked Elements, if applicable. Receipts can be completed through the mobile application, which allows for real-time inventory updates. 

Takes 

The takes list displays all inventory decrement transactions recorded within the system. Each transaction captures the removal of inventory along with the associated reason, which may include Consumed, Damaged, Recall, Lost, Expired, Returned to Vendor, and Other. In addition to the reason, each transaction will include Location, SKU, Item Name, Quantity Taken, and any Tracked Elements for the item. Inventory takes can be performed both through the mobile application and desktop. 

Transfers 

The transfers list displays all lateral inventory movements within the system. This includes transactions where items are moved from one location to another, such as between different facilities or within the same site. Each transfer will display the origin and destination locations, SKU, Item Name, Quantity Transferred and Tracked Elements, if any.  

Count 

 A count is a process where a user verifies and records the quantity of inventory present at a specific location or group of locations within the same address (under a parent location). This can be performed for a specific SKU, category, or full inventory. Counts can be completed on an ad hoc basis (at your own discretion) or from a raised discrepancy. Discrepancies can come from transactions within the system (Receive, Take, Transfer). 










 

 





 


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