Material Manager Question:

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Tell us what do you understand by posting period?

Materials Manager Interview Question
Materials Manager Interview Question

Answer:

Various documents like purchase order, request for quotation, goods receipt are essential documents in a business. These documents need security i.e. if any of documents is posted incorrectly then business can be affected at various concern levels. So, to secure these documents we have a concept of posting period. Posting period means it will allow you to post and make changes in the documents only in a specific time period.

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Explain what is difference between purchase requisition and purchase order?How can the value of inventory be determined?