Nv Group Head/VP/GM-Commercial Interview Questions and Answers

Safety stocks should be increased to account for the high demand variance in forecast planning.

• Analyze historical demand data to understand the extent of variance

• Identify the factors causing the abnormal demand variance

• Adjust safety stock levels based on the degree of variance and desired service level

• Consider using statistical forecasting methods to better predict demand

• Collaborate with suppliers to ensure timely repl...read more

Effective inventory management requires proper planning, forecasting, and monitoring.

• Set up a system for tracking inventory levels and usage

• Analyze sales data to forecast demand and adjust inventory levels accordingly

• Establish reorder points and safety stock levels to avoid stockouts

• Implement a first-in, first-out (FIFO) system to prevent spoilage and obsolescence

• Regularly review inventory turnover rates and adjust pur