TOEIC Vocabulary Flashcard

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. 

1. Stock = the amount of goods available in a shop (Uncountable noun) 

• This shop sells its old stock at very low prices. 
• We'll be getting our new stock in on Friday. 
• The store is selling off stock that is surplus to requirements.

2. Stock = to keep a supply of goods (Verb)

• Most supermarkets stock a wide range of wines. 
• This shop stocks a wide range of outdoor equipment. 

3. Stock = to fill shelves or a place with something

• I work as a stock person. My job duty is to stock shelves in the supermarket.
• I like to stock the fridge with food before my friends come to stay. 

4. Stock = part of the ownership of a company that can be bought by members of the public (Countable noun) 

• He invested his savings in stocks and shares. 
• They own 20 percent of the company's stock. (= shares) 
• The stock market crashed today.
• Stock prices fell yesterday in heavy trading. 
• Asian stocks declined sharply after the U.S. announced raising tariffs on imported goods from China.
• Facebook stocks plummet more than 20% amid concerns over growth.
• In March of 2020, the COVID-19 pandemic triggered the most rapid global crash in financial history. Still, the stock market recovered ground pretty quick, and the year closed with record highs.

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.