Industry Terms

The flow of content: Introduction to ABC analysis Example 1: ABC Analysis in Customer Segmentation Example 2: ABC Analysis in Inventory Management Why Use ABC analysis? How is ABC analysis done? Industrial application of ABC analysis   ABC analysis is derived from the term “The Pareto Principle” named after an Italian economist Vilfredo Pareto, also called […]

A/B Testing, also known as split-run testing or bucket test, is an experiment where 2 or more variants of the same thing are compared against each other to see which one performs better. The audience is randomly presented with two versions after which ab testing statistics are used to judge their performance. Now that you […]

Address Verification Service (AVS) is used to verify the address typed by the user while online transaction. Mainly used by the Banks, this service helps to correct invalid city, state and zip code combinations.

The flow of content: Definition: Anticipation inventory Advantages of Anticipation inventory Disadvantages of Anticipation inventory Definition: Anticipation inventory is the stock that is kept according to the expected consumer demand. It is quite similar to safety stock but it differs in the sense that this stock is usually kept seasonally when the demand for products […]

What is Arbitrage? Arbitrage is the practice of taking advantage of a “price difference” between two or more markets (due to imbalance or inefficiency in the market). It’s continuous buying and selling an asset to profit from the differences in the price of the asset. It is a regularly used trading strategy, and probably one […]

Amazon Standard Identification Number- ASIN Definition The Amazon Standard Identification Number is a unique 10-character alphanumeric number assigned by Amazon.com for identifying products within the Amazon marketplace. Every product listed on Amazon has a unique amazon standard identification number, meaning no two products have the same number. These asin number is a unique identifier for […]

Advanced Shipping Notice (ASN) is an electronically sent notification of an upcoming or pending delivery sent directly to the buyer from a third-party-logistics or the supplier, well in advance. The ASN’s structure or format basically depends on what your prospective customer might demand or what information you need to provide being a supplier or a […]