Store Head
Store Head Interview Questions and Answers
Q1. What's the definition of inventory
Inventory refers to the goods or materials a business holds for the purpose of resale or production.
Inventory includes raw materials, work-in-progress, and finished goods.
It is an important aspect of supply chain management.
Inventory management involves balancing the costs of holding inventory with the benefits of having enough stock to meet demand.
Examples of businesses that rely heavily on inventory management include retail stores, manufacturers, and wholesalers.
Q2. How to identify the class of inventory
Inventory class can be identified based on its usage, demand, and value.
Analyze the usage frequency of the inventory
Determine the demand for the inventory
Evaluate the value of the inventory
Classify inventory as A, B, or C based on usage, demand, and value
A - high usage, high demand, high value
B - moderate usage, moderate demand, moderate value
C - low usage, low demand, low value
Q3. How you controlling stores inventory
We control stores inventory through regular audits, implementing inventory management software, and setting up reorder points.
Regular audits to identify discrepancies and ensure accuracy
Implementing inventory management software to track inventory levels and movement
Setting up reorder points to ensure timely replenishment
Monitoring sales trends and adjusting inventory levels accordingly
Collaborating with suppliers to optimize inventory levels and reduce lead times
Q4. Clarification the ABC analysis
ABC analysis is a technique used to categorize items based on their value or importance.
ABC analysis divides items into three categories: A, B, and C.
Category A items are the most important and valuable, while category C items are the least important and valuable.
The analysis is based on the Pareto principle, which states that 80% of the value comes from 20% of the items.
Example: A store might use ABC analysis to categorize its inventory, with high-value items like electronic...read more
Q5. Last working information and process
The last working information and process refer to the most recent tasks and procedures completed in the workplace.
Provide details on the tasks completed in the previous workday or week
Explain any new processes implemented or changes made
Discuss any challenges faced and how they were overcome
Highlight any achievements or successes in the recent work period
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