What does "stock availability" refer to in supply chain management?

In supply chain management, "stock availability" specifically refers to the readiness of items to be supplied to meet customer demands. This concept is crucial because it directly impacts customer satisfaction and operational efficiency. When stock availability is at an optimal level, it means that the required products are in inventory and can be delivered to customers in a timely manner, thus avoiding stockouts or delays in service.

This readiness not only hinges on having the correct quantity of items in storage but also involves effective inventory management practices that ensure anticipated demand is met without overstocking, which could lead to other issues like obsolescence or increased holding costs. Therefore, stock availability encompasses both the physical quantity available and the strategic approach to maintaining that inventory in line with customer needs.

In contrast, the other choices reflect different aspects of inventory and supply chain issues but do not encapsulate the broader concept of stock availability as it pertains specifically to meeting customer demands in real-time.