Inventory Manager Question:
Warehouse Security Based Inventory Manager Interview Questions:
Answer:
☛ What controls are in place to limit access to the warehouse and inventory supplies (e.g., cameras, guards, restricted access areas, etc.)?
☛ How often are access levels reviewed (e.g., to eliminate access to terminated employees, etc.)?
☛ Have safety procedures for the warehouse been documented and communicated to employees?
☛ How is the warehouse organized (e.g., more expensive products locked in cages, items separated and clearly labeled)?
☛ Is damaged, obsolete, scrap and consigned inventory segregated to prevent confusion during the cycle counts?
☛ How are movements of inventory monitored to ensure that it is properly safeguarded? What documentation is required?
☛ Are there instances when inventory would be transferred among inventory locations? How is the inventory accounted for?
☛ Approximately how many days/months worth of inventory is stored within current warehouses? Any changes in the aging over the last few months?
☛ Do you store consigned inventory for customers or consign inventory to others? If so, how is it controlled and recorded?
☛ How do you determine which inventory is obsolete? What is the process for determining excess and obsolete inventory? Have policies been established?
☛ What procedures are performed for the scraping of obsolete inventory? Is this done in a timely manner? Does the scrapping of materials require authorization?
☛ Do you receive any payment for scrapped goods? How is this recorded within the financials?
☛ What is the process for stocking overages when orders are closed? How is this communicated to accounting to ensure that the inventory aging is accurate?
☛ What type of management reporting is performed?
☛ Are inventory performance metrics monitored on a regular basis, e.g., inventory turns?
☛ How often are access levels reviewed (e.g., to eliminate access to terminated employees, etc.)?
☛ Have safety procedures for the warehouse been documented and communicated to employees?
☛ How is the warehouse organized (e.g., more expensive products locked in cages, items separated and clearly labeled)?
☛ Is damaged, obsolete, scrap and consigned inventory segregated to prevent confusion during the cycle counts?
☛ How are movements of inventory monitored to ensure that it is properly safeguarded? What documentation is required?
☛ Are there instances when inventory would be transferred among inventory locations? How is the inventory accounted for?
☛ Approximately how many days/months worth of inventory is stored within current warehouses? Any changes in the aging over the last few months?
☛ Do you store consigned inventory for customers or consign inventory to others? If so, how is it controlled and recorded?
☛ How do you determine which inventory is obsolete? What is the process for determining excess and obsolete inventory? Have policies been established?
☛ What procedures are performed for the scraping of obsolete inventory? Is this done in a timely manner? Does the scrapping of materials require authorization?
☛ Do you receive any payment for scrapped goods? How is this recorded within the financials?
☛ What is the process for stocking overages when orders are closed? How is this communicated to accounting to ensure that the inventory aging is accurate?
☛ What type of management reporting is performed?
☛ Are inventory performance metrics monitored on a regular basis, e.g., inventory turns?
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