Quarterly Inventory Review Meeting
A team meeting between the warehouse manager, procurement specialist, and sales director to discuss current inventory levels, slow-moving items, forecasting for the next quarter, and strategies for optimizing stock.
Dialogue
Listen and follow along with the conversation
Vocabulary
Essential words and phrases from the dialogue
inventory
A list or stock of goods or materials that a company has available for use or sale; in business, it refers to the items stored in a warehouse.
slow-moving items
Products that do not sell quickly and stay in storage for a long time, which can increase costs for the company.
holding costs
The expenses a company pays to store and maintain inventory, such as rent, insurance, and depreciation.
promotions
Special offers or discounts to encourage customers to buy products, often used to clear slow-selling items.
forecasting
The process of predicting future demand or sales based on data and trends to plan inventory needs.
surge
A sudden and large increase, like a surge in demand meaning more customers want the product quickly.
replenishment
The act of restocking or refilling inventory when supplies run low from suppliers.
bottlenecks
Points in a process where delays occur, slowing down the overall flow, like in logistics or supply chain.
VMI
Vendor Managed Inventory; a system where the supplier monitors and restocks the buyer's inventory to improve efficiency.
out-of-stock
When a product is not available for sale because the inventory has run out, which can lose customers.
Key Sentences
Important phrases to remember and practice
Let's dive right into current stock levels.
This is a polite way to start a meeting by jumping directly into the main topic. 'Dive right into' is an idiom meaning to start something immediately and enthusiastically. Use it in business meetings to keep discussions focused.
We've identified a few slow-moving items in categories like certain electronics components.
This sentence reports findings about inventory issues. 'Identified' means found or recognized, and it uses 'like' to give examples. It's useful for describing problems in reports or meetings; note the structure with prepositions for categories.
I'm concerned about their impact on our holding costs.
Expresses worry about consequences. 'Concerned about' shows polite concern, and 'impact on' means effect. This is common in professional discussions to highlight risks; it's a simple present continuous for ongoing feelings.
Have we explored any promotions or bundles for these particular products?
This is a question suggesting ideas. 'Explored' means investigated, and 'or' connects alternatives. Use this in team meetings to check if options have been considered; it's a yes/no question with 'have we' for past actions up to now.
We anticipate a significant surge in demand for the new line.
Predicts future trends. 'Anticipate' means expect, and 'significant surge' emphasizes a big increase. Useful for forecasting in business; present simple for general truths, with 'for' introducing the specific item.
We'll need to ensure we have adequate storage space.
States a requirement for preparation. 'Ensure' means make sure, and 'adequate' means sufficient. This is practical for planning discussions; future 'will' for predictions, with infinitive 'to ensure'.
It might be worth exploring a vendor managed inventory arrangement.
Suggests an idea tentatively. 'Might be worth' means it's possibly beneficial, and 'exploring' is a gerund after preposition. Use in strategy meetings for proposals; modal 'might' softens the suggestion.
We need to avoid out-of-stock situations at all costs.
Emphasizes urgency. 'At all costs' means no matter what, and 'avoid' means prevent. Essential for supply chain talks; imperative structure with 'need to' for necessity.