Shyam Sel & Power Asst Store Interview Questions and Answers

Q1. What is inventory Management
Ans. 
Inventory management involves overseeing the ordering, storing, and usage of a company's inventory.
• It includes tracking inventory levels, ordering new items, and managing stock levels.

• Efficient inventory management helps prevent stockouts and overstock situations.

• Examples of inventory management tools include barcode scanners, inventory software, and RFID technology.
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Q2. What is perpetual inventory
Ans. 
Perpetual inventory is a system of tracking inventory in real-time to provide accurate and up-to-date information on stock levels.
• Perpetual inventory involves continuously updating inventory records to reflect changes in stock levels

• It helps in preventing stockouts and overstocking by providing real-time data on inventory levels

• Barcoding and RFID technology are often used in perpetual inventory systems to track items a...read more
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Q3. Explain 5'S
Ans. 
5'S is a methodology used to organize a workplace for efficiency and effectiveness.
• Sort - Separate necessary items from unnecessary items

• Set in order - Arrange necessary items in a logical and efficient manner

• Shine - Clean and maintain the workplace

• Standardize - Establish standards and procedures for maintaining the workplace

• Sustain - Ensure the practices are consistently followed and improved upon
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Q4. What is kaizen
Ans. 
Kaizen is a Japanese business philosophy of continuous improvement in processes and practices.
• Kaizen focuses on making small, incremental changes to improve efficiency and quality.

• It involves all employees in the organization, from top management to frontline workers.

• Kaizen emphasizes the importance of standardizing processes and eliminating waste.

• Examples of kaizen include implementing 5S methodology, conducting regul...read more
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Q5. How to manage stock
Ans. 
Stock management involves monitoring inventory levels, forecasting demand, setting reorder points, and optimizing storage space.
• Regularly monitor inventory levels to avoid stockouts or overstocking

• Forecast demand based on historical data, market trends, and seasonality

• Set reorder points to automatically replenish stock when it reaches a certain level

• Optimize storage space by organizing inventory efficiently and using t...read more
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First introduction then some questions about company and computer