SSF PLASTICS Senior Purchase Executive Interview Questions and Answers

VMI stands for Vendor Managed Inventory, where the supplier manages the inventory of the buyer.

• VMI is a supply chain management technique.

• The supplier is responsible for monitoring and replenishing the buyer's inventory.

• The supplier has access to the buyer's inventory data and manages the inventory accordingly.

• VMI helps in reducing inventory costs and improving supply chain efficiency.

• Examples of VMI include Walmart's ...read more

Min-max-rol level for inventory is defined based on demand, lead time, and safety stock.

• Min level is the minimum quantity of inventory required to avoid stockouts.

• Max level is the maximum quantity of inventory required to avoid overstocking.

• Rol level is the quantity of inventory to be ordered when the stock level reaches the reorder point.

• Demand, lead time, and safety stock are the key factors to determine the min-max-...read more