Legend Footwear Supply Chain Executive Interview Questions and Answers

Lifo and fifo are inventory management methods used to track the flow of goods.

• Lifo stands for Last In, First Out, meaning the most recently received items are sold first.

• Fifo stands for First In, First Out, meaning the oldest items in inventory are sold first.

• Lifo is often used for products with a short shelf life, while fifo is used for products with a longer shelf life.

• For example, a grocery store might use fifo for...read more

Effective inbound inventory management is crucial for efficient logistics operations.

• Inbound inventory management involves tracking and managing the flow of goods into a warehouse or distribution center.

• It includes activities such as receiving, inspecting, and storing incoming goods.

• Effective inbound inventory management can help reduce stockouts, improve order fulfillment times, and minimize inventory carrying costs.

• T...read more