LG Electronics Store Keeper and Material Controller Interview Questions, Process, and Tips

Inventory refers to the list of goods and materials held by a business for production, storage, or resale.

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

• It is crucial for businesses to manage their inventory effectively to avoid stockouts or excess inventory.

• Inventory can be tracked using various methods such as FIFO (First In, First Out) or LIFO (Last In, First Out).

ERP stands for Enterprise Resource Planning, which is a software system that helps organizations manage and integrate important parts of their businesses.

• ERP is a software system that allows organizations to manage and integrate various aspects of their operations, such as accounting, procurement, project management, and manufacturing.

• It helps in streamlining processes, improving efficiency, and providing real-time dat...read more

Material refers to the physical items or substances used in a particular process or activity.

• Material can include raw materials, components, finished products, tools, equipment, etc.

• Materials can be categorized based on their properties, such as solid, liquid, gas, perishable, non-perishable, etc.

• Effective material management involves procurement, storage, handling, and distribution of materials.

• Examples of materials i...read more

Planning and scheduling involves organizing and coordinating resources to achieve specific goals within a set timeframe.

• Developing a detailed plan for the procurement, storage, and distribution of materials

• Creating schedules for inventory management and replenishment

• Coordinating with suppliers to ensure timely delivery of materials

• Monitoring inventory levels and adjusting plans as needed

• Utilizing software systems for e...read more