Inventory Planner Interview Questions and Answers

Planning process guesstimates involve forecasting demand, analyzing inventory levels, and adjusting supply chain accordingly.

• Guesstimates involve making educated guesses based on historical data and market trends.

• Forecasting demand involves analyzing sales data, market trends, and customer behavior.

• Analyzing inventory levels involves monitoring stock levels, lead times, and safety stock.

• Adjusting supply chain involves optimizing procurement, production, and logistics processe...read more

Perpetual inventory is a system of tracking inventory in real-time, updating quantities with each transaction.

• Perpetual inventory provides a continuous and accurate record of inventory levels.

• It involves using technology like barcode scanners and inventory management software to track inventory movements.

• With perpetual inventory, inventory levels are updated in real-time as goods are bought, sold, or moved.

• This system helps businesses maintain optimal inventory levels, reduce...read more

FFR ratio stands for Fast Fashion Retailer ratio, which measures the speed at which a retailer can bring new fashion trends to market.

• FFR ratio is calculated by dividing the number of days it takes for a retailer to bring a new fashion trend to market by the number of days it takes for a traditional retailer to do the same.

• A lower FFR ratio indicates that a retailer is able to quickly respond to changing fashion trends and bring new products to market faster.

• For example, if a...read more