Hpl Electric & Power Senior Executive - Stores Interview Questions and Answers

Inventory refers to the goods and materials a business holds for the purpose of resale or use in production.

• Inventory includes raw materials, work-in-progress, and finished goods.

• It is important for businesses to manage their inventory effectively to meet customer demand and minimize costs.

• Examples of inventory include clothing in a retail store, spare parts in an auto repair shop, and ingredients in a restaurant kitch

GRN stands for Goods Receipt Note, a document used to confirm the receipt of goods from a supplier.

• GRN is a document used in the process of receiving goods from a supplier.

• It includes details such as the quantity received, condition of goods, and any discrepancies found.

• GRN is used to update inventory records and initiate the payment process to the supplier.

• It serves as a proof of delivery and receipt of goods.

• Example:...read more