Your Go-To Resource for Understanding Supply chain glossaries and key Logistics Terms

A system used by Canada Customs to expedite the release of shipments by allowing electronic data interchange around the clock.

In quality management, a threshold level that represents a satisfactory average quality level in a batch or series of lots during sampling inspection.

A specific plan indicating the sizes of samples to be used and the criteria for accepting or rejecting a lot based on those samples.

Demand forecasting is a business’s way of having a crystal ball to tell what will happen in the future! It is the art of forecasting the consumer’s future needs for a particular product or service.

Active stock means the inventory that a business uses, refills, and moves around regularly. This stock includes items with a constant turnover rate, are consistently in demand, and require frequent restocking. Active stock differs from passive or inactive stock, including items that move slowly or are rarely used.