Resources

Inventory disposition glossary

The words used on XitStock and in the secondary market, defined the way the platform uses them.

HOW IT WORKS

Platform terms

Xit: An exit for inventory: a sale through XitMarket or a donation through XitDonate.
Lot: A single listing: one or more pallets sold or donated together.
Manifest: The line-level list of what is in a lot: SKU, quantity, unit retail, condition.
Seller of record: The company that lists the lot and is paid for it. A 3PL can be seller of record for client goods.
Buyer criteria: Rules a seller sets for who can see or buy a lot: verification, buyer type, region, channel, track record.
Blind lot: A listing where the brand is hidden until a buyer qualifies.
Resale restrictions: Written rules on where a buyer may resell: excluded channels, export only, delabeling.
Quick Xit: The accelerated mode in XitMarket: a removal date and a floor lead the listing; offers are compared on speed and net.
Removal date: The date the lot must leave the seller's building. Shown on every card.
Release code: The code XitRelease issues to the dock once payment is secured. No code, no release.
Claims window: The period after delivery in which a buyer can raise a claim against the manifest or grade. Payout follows it.
Landed cost: Inventory price plus buyer fee, freight and tax: what the buyer actually pays.
Max Landed Cost bidding: Bidding where the buyer sets a delivered ceiling and the platform bids the inventory price that stays inside it.
Track record: Counted completed deals, deliveries and claims on an account. Not a star rating.

Overstock: Good product that did not sell through.
Shelf pull: New product removed from a retail floor.
Closeout: Product from a discontinued line or SKU.
Customer returns: Product returned by consumers, in mixed condition.
Salvage: Product sold for parts, materials or recycling.
LTL, partial, truckload: Freight modes by load size: less-than-truckload, partial truckload, full truckload.
BOL and POD: Bill of lading and proof of delivery: the freight documents attached to every transaction.
3PL: Third-party logistics provider: a warehouse that stores and ships goods for clients.

One upload. Every possible Xit.