Manager - Parts Interview Questions and Answers

Inventory control is the process of managing and monitoring the flow of goods in and out of a company's inventory.

• Inventory control involves tracking inventory levels, ordering and replenishing stock, and minimizing stockouts and overstocking.

• It includes implementing systems and procedures to ensure accurate inventory counts and efficient inventory management.

• Effective inventory control helps optimize cash flow, reduce carrying costs, and improve customer satisfaction.

• Example...read more

Inventory control principles ensure efficient management of stock levels and costs.

• Regular monitoring of inventory levels

• Accurate forecasting of demand

• Effective communication with suppliers

• Optimizing order quantities and lead times

• Minimizing excess and obsolete inventory

• Utilizing technology for tracking and analysis

• Implementing a system for inventory classification

• Establishing safety stock levels

• Conducting regular audits and cycle counts

In the last company, I managed the parts inventory and reduced the inventory cost by 15%.

• Managed parts inventory

• Reduced inventory cost by 15%

• Implemented efficient inventory management system

• Collaborated with suppliers to negotiate better prices

• Improved delivery time for parts