In-transit inventory

Material that has left a supplier or a warehouse but has not yet been received at its destination.

Why it matters operationally

In-transit stock is the hardest thing on an event to reason about, because it is nobody’s problem until it is late. It is also the difference between “we have ordered it” and “we have it”, which is a distinction that matters enormously in the last fortnight before an event and not at all six months out.