For Perpetual Inventory we have terms and definitions in 4 topics. The topics are Accounting, Accounting Terms, Finance and Supply Chain.

Perpetual Inventory (Accounting)

is an inventory accounting system whereby book inventory is kept in continuous agreement with stock on hand. A daily record is maintained of the dollar amount and physical quantity. There are periodic physical inventories taken to reconcile at short intervals.

Perpetual Inventory (Accounting Terms)

System that requires a continuous record of all receipts and withdrawals of each item of INVENTORY.

Perpetual Inventory (Finance)

Recordkeeping system in which book inventory is updated daily.

Perpetual Inventory (Supply Chain)

An inventory record keeping system where each transaction in and out is recorded and a new balance is computed.
Personal Computer (PC): An individual unit an operator uses for creating and maintaining programs and files; can often access the mainframe simultaneously.
Personal Discrimination: Charging different rates to shippers with similar transportation characteristics, or, charging similar rates to shippers with differing transportation characteristics.
Physical Distribution: The movement and storage of finished goods from manufacturing plants to warehouses to customers; used synonymously with business logistics. See Distribution.
Physical Supply: The movement and storage of raw materials from supply sources to the manufacturing facility.
Pick/Pack: Picking and packing immediately into shipment containers.

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