retail operations - the processes that keep a retailer's ecosystem running smoothing, such as inventory management, supply chain functions, merchandising, marketing, etc., inventory - another word for products/merchandise to be sold,  total inventory - a complete listing of all the merchandise that a retailer owns, on-hand (available) inventory  - the number of units within the total inventory that are available to sell at a particular moment in time, UPC barcode, PLU code , RFID tag ,  inventory replenishment - auotmatic or manual ordering to meet product demands,  receiving - matching the invoiced quantity to the actual products deliverd,  stockroom - the behind-the-scenes area in a store where inventory is kept that does not fit on the sales floor or is awaiting a specific release date,  safety stock - extra inventory kept on hand in case customers buy more than the estimated amount before the next shipment arrives,  stocking - the process of placing inventory on sales floor shelves, rack, or other displays,  out-of-stock - when customers have purchased more of a product that the company estimated and an item is sold out. Out-of-stock items may or may not be available again in the future, depending on the type of merchandise,  excess inventory - when customers did not buy as much of a product as estimated, so there is too much of that product in stock,  inventory shrinkage (or shrink) - when there are fewer items in stock than in the total inventory record indicates there are. This typically results from expired products, damage, theft, or paperwork error,  inventory tracking systems - retailer systems that specify the amount of inventory in a store or distribution center, identify how much inventory was sold, track the price that each item was sold for, pass info to ordering systems, record product price reductions, and more, point-of-sale (POS) systems - the system used when a customer purchases an item, typically at a checkout lane, profit - revenue (the amount of money that comes in) minus expenses (the amount of money that the retailer spends).,

3.1 Retail Operations

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