Warehouse Management System
WMSSoftware that optimizes warehouse operations including receiving, putaway, picking, packing, and shipping of inventory. WMS tracks inventory locations, manages storage space, and coordinates material movement to improve accuracy and efficiency in distribution and fulfillment operations.
RELATED TERMS
Enterprise Resource Planning
Integrated business management software that connects finance, human resources, supply chain, manufacturing, and other core business functions into a single system. ERP provides a centralized database and standardized processes across an organization, enabling better decision-making and operational efficiency.
Stock Keeping Unit
A unique identifier assigned to each distinct product or item variant in inventory for tracking and management purposes. SKUs enable precise inventory control, sales tracking, and order fulfillment by distinguishing between different sizes, colors, or configurations of products.
Work in Progress
Partially completed goods that are still in the production process, representing materials that have entered manufacturing but are not yet finished products. WIP is tracked as a current asset on the balance sheet and includes the costs of raw materials, labor, and overhead invested in unfinished items.