Cox & Kings Store Manager Interview Questions and Answers

JIT systems stands for Just-In-Time systems, which is a production strategy aimed at reducing waste and improving efficiency by receiving goods only as they are needed in the production process.

• JIT systems involve receiving goods only as they are needed in the production process

• Helps in reducing inventory costs and waste

• Requires close coordination with suppliers to ensure timely delivery of materials

• Popularized by comp

FIFO stands for First In, First Out. It is a method used for inventory management where the oldest stock is sold first.

• FIFO ensures that the oldest inventory items are used or sold first before the newer ones.

• This method is commonly used in industries like retail, food, and manufacturing.

• For example, if a store receives new stock of a product, the older stock will be sold first to prevent expiration or obsolescence.