Logistics Terms and Definitions

Term Definition
Cycle Counting Cyclic and ongoing counting of inventory held in a pick face or bulk storage location to ensure physical quantity matches quantity shown in warehouse management system (WMS). Cycle counting is typically undertaken during normal warehouse operations.
Stock Take Periodic (annual or quarterly) counting of all inventory held within the warehouse to ensure physical quantity matches quantity shown in warehouse management system (WMS). Stock taking typically results in the normal warehouse operations being suspended while the inventory is counted.
Warehouse Management System (WMS) A software application that supports the day-to-day operations in a warehouse. WMS programs enable centralized management of tasks such as receiving and put away of inbound inventory, the location and level of inventory being held in each location, picking, packing and dispatching of outbound orders. processing returned items and managing stock take and cycle counting activities.