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

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

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

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