10+ Prodigy Technovations Interview Questions and Answers

Sell through refers to the rate at which inventory is sold within a given period of time.

• Sell through is a measure of how quickly products are sold to customers.

• It is calculated by dividing the total units sold by the beginning inventory and multiplying by 100.

• A high sell through indicates strong demand and efficient inventory management.

• A low sell through may suggest slow sales or overstocking.

• Sell through can be used to analyze the performance of specific products or produc...read more

The question is asking about the contribution of each department and sub-department per square foot value.

• Calculate the sales per square foot for each department and sub-department

• Analyze the data to determine the contribution of each department and sub-department

• Identify areas for improvement and develop strategies to increase sales per square foot

• Examples: Women's clothing department has a higher sales per square foot than men's clothing department

• Sub-departments like shoes...read more

My last stock take percentage was 98%.

• My last stock take percentage was 98%.

• I consistently maintain accurate stock levels through regular stock takes.

• I use inventory management systems to track stock levels and identify discrepancies.

Shrink control can be achieved by implementing inventory management techniques and conducting regular audits.

• Implement inventory management techniques such as FIFO and JIT

• Conduct regular audits to identify and address any discrepancies

• Train employees on proper inventory handling procedures

• Utilize technology such as RFID to track inventory

• Monitor sales trends and adjust inventory levels accordingly

A growth plan involves setting goals and creating a roadmap to achieve them. Family background is not relevant to this question.

• Identify long-term career goals

• Create short-term objectives to achieve those goals

• Develop a plan with specific actions and timelines

• Regularly review and adjust the plan as needed

• Seek feedback and mentorship from superiors

• Attend training and development programs

• Network with professionals in the industry

Shrink refers to the loss of inventory in a retail store. There are several types of shrink that can occur.

• Shoplifting: When customers steal merchandise from the store.

• Employee theft: When employees steal merchandise or money from the store.

• Administrative errors: Mistakes in inventory management or paperwork that result in loss.

• Vendor fraud: When vendors or suppliers deceive the store by overcharging or delivering less than what was ordered.

• Damage or spoilage: Losses due to d...read more

Sales techniques are strategies and methods used to persuade customers to make a purchase.

• Building rapport with customers

• Identifying customer needs and offering solutions

• Using effective communication skills

• Creating a sense of urgency or scarcity

• Upselling and cross-selling products or services

Shrink control refers to the measures taken to prevent loss of inventory due to theft, damage, or errors.

• Implementing security measures such as CCTV cameras, security tags, and alarms

• Conducting regular inventory checks and audits

• Training employees on proper handling and storage of merchandise

• Analyzing sales data to identify patterns of theft or loss

• Establishing clear policies and procedures for handling cash and merchandise

• Collaborating with law enforcement to investigate and...read more

Increasing sales can be achieved through various strategies such as improving customer service, implementing effective marketing campaigns, and optimizing product displays.

• Improve customer service to enhance customer satisfaction and loyalty

• Implement effective marketing campaigns to attract new customers and retain existing ones

• Optimize product displays to showcase products in an appealing way and encourage impulse purchases

Shrink can be controlled by implementing strict inventory management procedures and conducting regular audits.

• Implementing strict inventory management procedures such as regular stock counts and monitoring sales trends

• Training staff on theft prevention techniques and encouraging a culture of honesty

• Installing security measures such as surveillance cameras and electronic article surveillance tags

• Conducting regular audits to identify any discrepancies in inventory levels

• Analyzi...read more

FIFO stands for First In, First Out. It is a method used for inventory management where the oldest stock is sold first.

• FIFO ensures that the oldest inventory is used first to prevent spoilage or obsolescence.

• It is commonly used in industries like food, retail, and manufacturing.

• For example, in a grocery store, products with the earliest expiration dates are sold first under FIFO.

PSF stands for Profit Sharing Fund, a type of incentive program where employees receive a share of the company's profits.

• PSF is a form of incentive program where employees receive a portion of the company's profits.

• It is often used to motivate employees to work towards the company's financial success.

• PSF can be distributed in various ways, such as through bonuses, profit-sharing plans, or stock options.

Handle staff by setting clear expectations, providing support and feedback, and fostering a positive work environment.

• Set clear expectations for roles and responsibilities

• Provide regular feedback and support to help staff improve

• Create a positive work environment through team building activities and recognition

• Address any conflicts or issues promptly and professionally