If merchandise is “on hand”, it’s something that the retailer has in its possession. (The important callout here is that on hand just means it’s been received and is somewhere in the building, but it doesn’t guarantee the product has made it out of the back room yet.) If something is “on order”, this is stock that retailers have on open purchase orders or manufacturing orders.
Quantity On Hand/On Order (QOH/QOO)
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