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Glossary of Industry Terms
Glossary of Industry Terms Related to Liquidation Products and Shipping Terms
Packing Terms
Master Case
100% brand new factory sealed merchandise, still in its original packaging.
Pallet
Wooden (and sometimes plastic) structure used to support goods while in transit or being moved. Standard pallets are 40? x 48? and typically moved using forklifts or pallet jacks.
Bin
Large open cardboard box, similar to a gaylord but much shorter (approximately 24? in height).
Skid
Alternative term used to refer to a pallet. Specifically a skid is a pallet with no bottom decks.
Case Pack / Case lot
Generally refers to loose items packed in a small case. Typically used for shipping smaller goods such as cosmetics, clothing, accessories, etc. Case packs/lots typically have a predetermined unit count.
Gaylord
Typically a large open cardboard box placed on top of a pallet and used to store or move large quantities or smaller loose items. Come in various sizes but are typically 40? x 48? x 48?
Industry and Merchandise Terms
Pre-Worn
Pre-worn condition refers typically to clothing and/or accessories that have previously been worn (used), typically come without any kind of retail tags or labels.
Private/Store Label
Brands that are either private or specific store label brands (not national brands).
Refurbished
Refurbished goods are items that have gone through a process to test and restore the items to their original working condition. Often these items are repackaged in generic boxes and may not include all the items found in the original manufacturer’s packaging.
Retail Value
The value of an item or load based on its original retail price in the store.
Seasonal Goods
Goods that are heavy in merchandise for a particular season like Halloween, Easter, Christmas, etc.
Shelf Pulls
Shelf pulls are typically overstocked goods that have been displayed for sale in a store or online but have never been purchased by a consumer.
Tested Working
These are items that are typically in overstock, shelf pull or return condition but have been put through a testing process and have been deemed to be in working condition. These items may or may not come in original boxes, with or without all parts and accessories.
AS-IS
Refers to the selling conditions of certain merchandise. Buyer typically assumes all risks in purchasing such goods and that merchandise is sold with no guarantees or returns.
Customer Return
Item which has been purchased by a consumer and then returned to the store (or online store) for any number of reasons.
Defective
Defective condition refers to items that have been put through a testing process and have been deemed defective or not working. Items may be visually defective or incomplete, or be missing parts. Items may also be brand new but with a major quality control flaw, making them defective.
Hash
Very assorted loads typically made up of 1 or 2 pieces of a large variety of different products.
HBA
Health & Beauty Aids.
Manifest
A list of the items that are included in a load. Not all pallets or loads are manifested. If the load or pallet is manifested, you would be able to view a list of what would be in the load. Manifests are not 100% accurate and some room for error is to be expected. Manifests are typically generated by the department store facility.
Master Case
Master Case goods are typically 100% new in original manufacturer’s packaging and are fully functional and complete. These goods have not been exposed for sale in any retail environment and products can be considered 100% new and retail-ready.
New Overstock
New overstocks, also often refereed to as Closeouts, tend to be goods which typically have never been merchandised or exposed for sale in a retail store. Such goods can materialize from importers, manufacturers or distributors who are closing down or simply have excess goods in their warehouse that they need to move.