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Glossary Inventory Managment / Term

Commodity

In inventory management, the term Commodity has a couple of definitions. Standard products commonly available from various sources are often called "commodity items". Specialized or custom products not widely available or proprietary products only available from a small number of sources would not be considered commodity items. The term Commodity is also used to describe classifications of inventory. In this case, "commodity codes" are used to distinguish groups of inventory items to be used for reporting and analysis. Note that commodity classifications can be used to describe any inventory item and are not limited to items that fall under the previous definition of commodity items.

Permanent link Commodity - Creation date 2020-07-05


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