Loss Prevention Executive

Loss Prevention Executive Interview Questions and Answers

Updated 19 Sep 2024

Q1. How gdo manage expiry product.

Ans.

I manage expiry products by regularly monitoring expiration dates, rotating stock, and implementing a clear labeling system.

  • Regularly monitor expiration dates to identify and remove expired products

  • Rotate stock to ensure older products are used first

  • Implement a clear labeling system to easily identify expiration dates

  • Dispose of expired products properly to prevent any potential risks

Q2. What is inventory audit

Ans.

Inventory audit is a process of physically counting and verifying the quantities of items in stock to ensure accuracy.

  • Inventory audit involves physically counting all items in stock

  • It helps in identifying discrepancies between actual and recorded inventory levels

  • The audit may be conducted periodically or randomly to prevent theft or errors

  • Examples include cycle counting, spot checking, and full physical inventory counts

Q3. What is cash audit

Ans.

Cash audit is a process of verifying the accuracy of cash transactions and balances within a business.

  • Cash audit involves comparing physical cash on hand with recorded cash transactions.

  • It helps identify discrepancies, errors, or potential fraud in cash handling.

  • Cash audit may include counting cash, reconciling receipts, and reviewing financial records.

  • Regular cash audits are important for maintaining financial integrity and preventing losses.

  • Examples: counting cash in a cash...read more

Q4. Explain DC operations

Ans.

DC operations refer to the processes involved in managing a distribution center's activities, including receiving, storing, and shipping goods.

  • DC operations involve receiving incoming shipments of goods from suppliers

  • Goods are then stored in the distribution center until they are needed for orders

  • Orders are picked, packed, and shipped to customers in an efficient manner

  • Inventory management is crucial to ensure accurate stock levels and prevent stockouts

  • Technology such as ware...read more

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Q5. Explain nature of job

Ans.

Loss Prevention Executives are responsible for developing and implementing strategies to prevent theft and minimize losses within a retail or corporate environment.

  • Develop and implement loss prevention strategies

  • Conduct audits and investigations to identify potential risks

  • Train staff on security protocols and procedures

  • Collaborate with law enforcement agencies

  • Monitor surveillance footage and analyze data for suspicious activities

Q6. Vlookup in excel

Ans.

Vlookup is a function in Excel used to search for a value in a table and return a corresponding value from another column.

  • Vlookup stands for 'vertical lookup'

  • It is used to search for a value in the first column of a table and return a value in the same row from a specified column

  • Syntax: =VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

  • Example: =VLOOKUP(A2, B2:D10, 3, FALSE) - searches for the value in cell A2 in the first column of the range B2:D10 and return...read more

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