Retail terms, explained simply.
A reference for the language used in connected commerce, stock, payments and fulfilment.
API
An application programming interface: a defined way for software systems to exchange data or request an action.
Available-to-promise stock
The quantity that can be offered to a new customer after applying reservations, buffers and stock-status rules.
Click & collect
An order placed online and prepared for collection from an agreed retail location.
GMV
Gross merchandise value: the value of merchandise sold under an agreed reporting definition. It is not the same as platform revenue or profit.
Inventory reservation
Stock set aside for an order so it is not inadvertently offered again before fulfilment or release.
Merchant of record
The entity responsible for the transaction under the relevant payment and contractual arrangement. This must be agreed rather than assumed.
Multi-tenant platform
Software serving multiple merchant accounts with the required separation of records and access.
POS
Point of sale: the in-store system used to record transactions and related retail activity.
Proof of delivery
Agreed evidence of a handover, which may include a timestamp, signature or photograph depending on the service.
Reconciliation
Comparing related records, such as orders and settlements or physical and recorded stock, to identify and resolve differences.
SKU
Stock keeping unit: a retailer’s identifier for a specific saleable product or variant.
Webhook
An event notification sent by one system to another. A dependable integration validates it and handles repetition or delay.
WMS
Warehouse management system: software supporting warehouse stock and tasks such as receiving, picking and dispatch.
Use the terms to ask better operational questions.
When discussing live inventory, ask which system owns the stock record and how quickly changes reach the website. When reviewing settlement, distinguish the customer payment from the amount received after agreed deductions. Clear definitions make the commercial and operational arrangement easier to understand.
Vehoo’s zero-upfront-cost setup connects these ideas in one retail workflow. A product has an identifier, a sale reserves stock, a payment changes order status and a delivery completes the handover. The glossary explains the vocabulary used along that journey.
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