| Fair Market Value | A price that would be acceptable on the open market for items or property of equivalent comparison. |
| Fast Charging | Designed for nickel-based battery, fast charging fills a battery pack in about one hour. Fast charging is preferred because of reduced crystalline formation (memory). Accurate full-charge detection is important. When full, the charger switches to topping and then trickle charge. Fast chargers are used for industrial devices such as two-way radios, power tools, forklifts, and computers. Method for quickly recharging lift truck batteries on the vehicle during short periods where the vehicle is not being used (lunches, breaks, shift changes, etc). This process for "opportunity charging" eliminates the need to change batteries in multi-shift operations. |
| FIFO | In inventory control and financial accounting, this refers to the practice of using stock from inventory on the basis of what was received first and is consumed first, i.e. first-in-first-out. |
| Fill Rate | The percentage of order items found during picking. |
| Fill Rates by Order | Whether orders are received and released consistently or released from a blanket purchase order, this metric measures the percentage of ship-from-stock orders shipped within 24 hours of order "release." Make-to-stock schedules attempt to time the availability of finished goods to match forecasted customer orders or releases. Orders that were not shipped within 24 hours due to consolidation but were available for shipment within 24 hours are reported separately. In calculating elapsed time for order fill rates, the interval begins at ship release and ends when material is consigned for shipment. Calculation: [Number of orders filled from stock shipped within 24 hours or order release] / [Total number of stock orders] The same concept of fill rates can be applied to order lines and individual products to provide statistics on percentage of lines shipped completely and percentage of products shipped completely.
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| Fire Aisle | A passageway established to aid in fighting or preventing the spread of fire or for access to fire fighting equipment. |
| Fixed Slot | A slot reserved for a specific item or SKU.
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| Floor Load (floor-loaded container) | A shipping container of freight that is loaded with freight from the floor up, rather than on pallets. A full floor-loaded container can hold more freight than a palletized load, but the containers take longer to load and to unload. Shipments to and from China are not permitted to use wooden pallets, so unless plastic pallets are uses, such shipments would be floor loads. |
| Floor Stock | Inventory that is consumed in production but not tracked in the inventory management system. Floor stock is different from non-stock inventory since it has an SKU and an item master record, but rather than tracking quantities in the inventory system, the materials are expensed as they are received. |
| Floor-to-System Count | Describes a method of counting inventory where you document inventory balances found in storage and staging areas and then compare this data with system information. |
| Flow Rack | A storage method where product is presented to picking operations at one end of a rack and replenished from the opposite end.
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| Forced Count | Counting an item based upon an expected error. When there is reason to suspect inventory of an item may be incorrect, the item is manually added to the next cycle count. |
| Forecast | A Forecast is an estimation of future demand. Most forecasts use historical demand to calculate future demand. Adjustments for seasonality and trend are often necessary. |
| Forklift (fork lift, lift truck) | Material handling vehicles used to lift, move, stack, rack, or otherwise manipulate loads. Material handling workers use a lot of terms to describe lift trucks; some terms describe specific types of vehicles, others are slang terms or trade names that people often mistakenly use to describe trucks. Terms include, industrial truck, forklift, reach truck, motorized pallet trucks, turret trucks, counterbalanced forklift, walkie, rider, walkie rider, walkie stacker, straddle lift, side loader, order pickers, high lift, cherry picker, Jeep, Towmotor, Yale, Crown, Hyster, Raymond, Clark, Drexel, etc.
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| Fulfillment | The activity of processing customer orders and shipments. |
