Audit Team Leader Interview Questions and Answers

Inventory and warehouse management involves planning, organizing, and controlling the flow of goods and materials.

• Inventory management involves tracking and managing inventory levels, ordering and receiving goods, and managing stock levels.

• Warehouse management involves organizing and optimizing the physical space of a warehouse, managing inventory, and ensuring efficient movement of goods.

• Planning involves forecasting demand, setting inventory levels, and developing strategie...read more

To nullify inventory variances, I conduct regular audits, implement strict inventory control measures, and train staff on proper inventory management.

• Conduct regular audits to identify discrepancies

• Implement strict inventory control measures such as barcode scanning and tracking software

• Train staff on proper inventory management techniques

• Ensure accurate record-keeping and timely reconciliation of inventory

• Investigate and resolve any discrepancies promptly

Inventory shrinkage is calculated by comparing the recorded inventory levels with the actual inventory levels.

• Record the inventory levels at the beginning and end of a period

• Add the inventory received during the period

• Subtract the inventory sold during the period

• Compare the recorded inventory levels with the actual inventory levels

• Calculate the difference as a percentage of the recorded inventory levels

• Formula: (Recorded inventory - Actual inventory) / Recorded inventory * 10...read more

Customer services refer to the support and assistance provided to customers before, during, and after a purchase.

• Customer services involve addressing customer queries and concerns promptly and efficiently.

• It includes providing information about products and services, handling complaints, and resolving issues.

• Good customer service can lead to customer loyalty and positive word-of-mouth marketing.

• Examples of customer services include 24/7 helplines, live chat support, and perso...read more