What is the term for the number of times a product is used and replenished each year?

The term that describes the number of times a product is used and replenished each year is known as turnover. This concept is crucial in inventory management as it indicates how efficiently a product is being utilized and how quickly stock is being refreshed. A higher turnover rate implies strong demand and effective sales, allowing a business to maintain an optimal level of inventory without overstocking or running into shortages.

In contrast, terms like maintenance, inventory count, and supply rate pertain to other aspects of inventory management. Maintenance usually refers to the care or upkeep of equipment and supplies, while inventory count is a method of determining the quantity of items in stock at a given time. Supply rate, on the other hand, can refer to how often a supplier delivers goods, which is different from the actual turnover of products within the inventory. Understanding turnover helps businesses make informed decisions about purchasing and stocking products effectively.