TOEIC Vocabulary Flashcard

In stock = has stock available in a store

• Do you have light bulbs in stock? 
• The new edition is in stock in major bookshops. 
• Our products are low in stock currently.

1. Inventory = a detailed list of all the things in a place (Countable noun)

• We made an inventory of everything in the apartment.
• We made an inventory of the library's collection.
• We'd better begin by compiling an inventory of equipment on hand.
• How can a small business afford to keep a large inventory of supplies?

2. Inventory = the counting of goods (Uncountable noun)

do/take inventory on something (盤點)

do/take a physical count of inventory (手動盤點)

• We'll be doing inventory on the collection soon.
• Since we installed the new software, taking inventory has become a lot easier.
• When the delivery truck arrives, please take a physical count of inventory and verify that the quantities on the receipt are accurate.
• During the inventory process, we will verify the numbers in our computer files, clear up any discrepancies we may find, and adjust our records as necessary.
• This is a reminder that we will be closing the store for two days at the end of next week, Friday and Saturday, for inventory.

3. Inventory = the amount of goods available in a store (Uncountable or countable noun)

• Our store has the largest inventory in the used car business.
• Companies have cut inventories sharply since the downturn began.
• We are considering taking out a business loan to build up our inventory of supplies.
• Today, almost every business keeps a running inventory count by having its sales records tied by computer to its inventory. 

Out of stock = no stock available in a store

• Bikes are now out of stock. 
• The new edition is out of stock in major bookshops. 

The turnaround or turnaround time of a task, for example, the unloading of a ship or the delivery of a shipment, is the amount of time that it takes. A turnaround can also mean a complete change in opinion, attitude, or method.

The turnaround or turnaround time of a task is the amount of time that it takes. (Countable or Uncountable Noun)

A turnaround is a complete change in opinion, attitude, or method. (Countable Noun)

1. Turnover = the amount of business that a company does in a period of time (Countable Noun)

• We have had a low turnover of inventory this quarter and didn't bring in much money.
• Our business success is built on a fast turnover of merchandise.
• Recently the company has been trying to increase its turnover by diversifying into other fields.
• The company's annual turnover is somewhere around $37.7 billion.

2. Turnover =  the rate at which employees leave a company and are replaced by new people (Countable Noun)

• The company has experienced a lot of turnover (of personnel) in the past year. 
• A large number of temporary contracts resulted in a high turnover of staff.
• The restaurant industry has an astronomical amount of (employee) turnover, with data showing an average churn of around 73%.

Table turnover =  the rate at which customers leave a restuarant and are replaced by new customers (Uncountable Noun)

• One easy way to increase table turnover is to serve a smaller menu so that customers can decide and order faster.
• More and more restaurants are using a digital waitlist system to maximize table turnover rates.
• One of the biggest challenges facing restaurant owners is serving more people daily while providing a flawless dining experience that doesn't include rushing customers out of their seats. The reasoning behind it is simple: the faster the table turnover, and the more customers you serve, the higher the revenue.