Backlogs financial definition of backlogs
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The total value
of orders for a product that have not been filled. The backlog can help a company estimate its future earnings
or other performance more accurately. This metric is used most often in manufacturing.
backlog a build-up of customer orders which a firm has agreed to deliver at specified future dates. Backlogging is one means by which a firm can ‘even out’ demand in relation to its production capacity, allowing delivery lead times to increase during peaks in demand and shorten during slack periods. Backlogs of orders can provide an alternative to STOCKHOLDING or OVERTIME working, and varying the backlog may be the only way of dealing with demand fluctuations in some service industries. See PRODUCTION SCHEDULING.
References in periodicals archive
Avoiding the problem by mandating that there will never be a backlog
may be ideal in concept, but is unlikely in practice due to the dynamic nature of the insurance industry and unpredictable nature of individuals.
The DAV will play a large role in helping resolve the claims backlog
Considering how customer service representatives grapple with backlogs
, it is clear they need help.