Store & Dispatch Executive Interview Questions and Answers

Inventory management is the process of overseeing and controlling the flow of goods from production to storage to sale.

• It involves tracking inventory levels, ordering and replenishing stock, and managing stock movement.

• Effective inventory management ensures optimal stock levels, minimizes stockouts and overstocking, and reduces costs.

• Inventory management systems and software are used to automate and streamline the process.

• Examples of inventory management techniques include AB...read more

Inventory refers to the stock of goods or materials that a company holds for production, sales, or distribution purposes.

• Inventory includes both raw materials and finished goods.

• It is an essential part of supply chain management.

• Inventory management involves tracking, controlling, and optimizing inventory levels.

• Inventory can be categorized as perishable, non-perishable, or seasonal.

• Examples of inventory include clothing in a retail store, spare parts in an automobile factory...read more

Maintaining FIFO (First In, First Out) ensures that oldest stock is used first to prevent expiry or obsolescence.

• Label shelves with dates to easily identify oldest stock

• Regularly rotate stock to bring older items to the front

• Train staff on FIFO principles to ensure compliance