Orikam Healthcare Area Sales Manager Interview Questions and Answers

Effective inventory management involves proper planning, organization, and monitoring of stock levels.

• Utilize inventory management software to track stock levels and automate reordering processes.

• Implement a just-in-time inventory system to minimize excess stock and reduce storage costs.

• Regularly conduct inventory audits to identify discrepancies and prevent stockouts or overstocking.

• Establish clear communication chann...read more

FIFO stands for First In, First Out and is a method used in inventory management to ensure that the oldest stock is used or sold first.

• FIFO ensures that the oldest inventory items are used or sold first before newer items.

• This method helps prevent spoilage or obsolescence of goods by ensuring that older items are used up first.

• FIFO is commonly used in industries such as food, pharmaceuticals, and manufacturing.

• Example:...read more