Inventory Manager Question:
Placing the Order Based Inventory Manager Interview Questions:
Answer:
☛ Do you practice vendor managed inventory – where the vendor is responsible for monitoring the inventory levels? How is the demand for inventory communicated to vendors?
☛ How are inventory needs communicated to the procurement department?
☛ Which department is responsible for monitoring material lead times, machine capacity, etc.?
☛ What is the process followed to place orders with vendors?
☛ What documentation and approvals are required?
☛ Are there system or process controls in place that would prevent the placement of an unauthorized purchase order?
☛ Has an authorization matrix been established to determine the level of management authorization that is required to place the order? Please provide a copy.
☛ How is the procurement department notified when inventory levels sink below threshold levels?
☛ Have threshold levels been established?
☛ How are inventory needs communicated to suppliers? (E-procurement, fax, phone, EDI, mail, system-automated)
☛ How is the purchasing process expedited (e.g. use of long term contracts, blanket purchase orders, etc.)?
☛ Who monitors open POs?
☛ Does anyone monitor purchasing activities?
☛ Indicate the number of suppliers that contribute 80% of total purchases.
☛ Office supplies & MRO (maintenance, repair, and operations) supplies
☛ Does anyone have procurement cards? Who?
☛ What are the authorized spending limits?
☛ Who orders office supplies and MRO supplies?
☛ Who approves the requisitions?
☛ Centralized purchasing?
☛ How are inventory needs communicated to the procurement department?
☛ Which department is responsible for monitoring material lead times, machine capacity, etc.?
☛ What is the process followed to place orders with vendors?
☛ What documentation and approvals are required?
☛ Are there system or process controls in place that would prevent the placement of an unauthorized purchase order?
☛ Has an authorization matrix been established to determine the level of management authorization that is required to place the order? Please provide a copy.
☛ How is the procurement department notified when inventory levels sink below threshold levels?
☛ Have threshold levels been established?
☛ How are inventory needs communicated to suppliers? (E-procurement, fax, phone, EDI, mail, system-automated)
☛ How is the purchasing process expedited (e.g. use of long term contracts, blanket purchase orders, etc.)?
☛ Who monitors open POs?
☛ Does anyone monitor purchasing activities?
☛ Indicate the number of suppliers that contribute 80% of total purchases.
☛ Office supplies & MRO (maintenance, repair, and operations) supplies
☛ Does anyone have procurement cards? Who?
☛ What are the authorized spending limits?
☛ Who orders office supplies and MRO supplies?
☛ Who approves the requisitions?
☛ Centralized purchasing?
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