Škoda Auto Volkswagen SAP MM Consultant Interview Questions and Answers

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Q1. What is contract
Ans. 
A contract is a legally binding agreement between two or more parties that outlines the terms and conditions of their relationship.
• A contract can be written or verbal.

• It typically includes details such as the parties involved, the scope of work or obligations, the duration of the agreement, and any penalties or remedies for non-compliance.

• Contracts are used in various industries and sectors, including business, employm...read more
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Q2. What is consignment stock
Ans. 
Consignment stock is inventory that is owned by a supplier but held by a customer until it is used or sold.
• Consignment stock is a form of inventory management where the supplier retains ownership of the goods until they are consumed or sold by the customer.

• The supplier places the stock at the customer's location, but the customer does not pay for the goods until they are used or sold.

• The customer only pays for the good...read more
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Q3. What is inventory management
Ans. 
Inventory management is the process of overseeing and controlling the flow of goods from production to sale.
• It involves tracking inventory levels, ordering and replenishing stock, and managing stock movements.

• Effective inventory management ensures optimal stock levels, minimizes stockouts, and reduces carrying costs.

• It includes activities like demand forecasting, inventory valuation, stock audits, and implementing inve...read more
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