Which term refers to the number of units within total inventory that are available for sale?

Prepare for the NRF Retail Industry Certification Exam. Use flashcards and multiple choice questions with hints and explanations. Boost your retail knowledge now!

The term that refers to the number of units within total inventory that are available for sale is "available inventory (on-hand)." This term specifically identifies the quantity of goods that a retailer has in stock and ready for customers to purchase at any given time. It plays a critical role in inventory management because it helps retailers understand their immediate stock levels and manage their supply chain effectively.

This concept is essential for maintaining optimal inventory levels, ensuring that customer demand can be met without overstocking, which could lead to increased holding costs. Available inventory is a key metric used in assessing performance in retail sales and stock management.

The other terms, while related to inventory and sales, do not accurately describe the quantity of units available for sale. Inventory turnover, for instance, refers to how many times inventory is sold and replaced over a specified period, while stock keeping unit is a unique identifier for each distinct product and service that can be purchased. Overall stock count generally represents the total number of items in inventory, which may not distinguish between available and non-available units, such as those on hold or in the process of being returned.

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