Inventory Management Executive Interview Questions and Answers

Demand planning is the process of forecasting customer demand for a product or service to optimize inventory levels and meet customer needs.

• Analyze historical sales data to identify trends and patterns

• Consider external factors such as market trends, seasonality, and promotions

• Collaborate with sales, marketing, and production teams to gather input and insights

• Use forecasting techniques such as moving averages, exponential smoothing, and regression analysis

• Adjust forecasts base...read more

Activities can be managed by setting clear goals, prioritizing tasks, delegating responsibilities, and utilizing technology.

• Set clear goals and objectives for each activity

• Prioritize tasks based on importance and deadlines

• Delegate responsibilities to team members based on their strengths and expertise

• Utilize inventory management software to streamline processes and track inventory levels

• Regularly review and adjust activities to ensure efficiency and effectiveness