Volvo Purchase Associate Interview Questions and Answers

Inventory refers to the stock of goods or materials held by a company for production, sales, or distribution purposes.

• Inventory includes raw materials, work-in-progress, and finished goods.

• The inventory process involves tracking and managing the flow of goods from procurement to storage to sales.

• It helps in maintaining optimal stock levels, preventing stockouts or overstocking.

• Inventory management systems, such as barc...read more

Receipt function refers to the process of receiving goods or services and documenting the transaction.

• Receipt function involves verifying the quantity and quality of goods received.

• It also involves checking the accuracy of invoices and purchase orders.

• Receipt function helps in maintaining accurate inventory records.

• It is important to ensure that all receipts are properly documented and filed for future reference.

• Exampl...read more