Inventory Manager Interview Preparation Guide
Inventory Manager Frequently Asked Questions in various Inventory Manager job interviews by interviewer. The set of questions are here to ensures that you offer a perfect answer posed to you. So get preparation for your new job interview60 Inventory Manager Questions and Answers:
1 :: Tell us does the model always work?
No, the model only works for those cases that meet its assumptions.
2 :: Explain me when should a physical inventory be taken?
A inventory should be taken at least once a year. If items are perishable, seasonal or highly demanded a inventory should be taken more often.
3 :: Tell me what is a order point?
A order point is a point in time at which a order is placed to replenish goods in inventory.
4 :: Tell us what is forecasting?
Forecasting is the process of estimating the future demand of a product.
5 :: Tell me what does EOQ stand for?
EOQ stands for Economic Order Quantity.
6 :: Tell us what Should Be Recorded In A Physical Count Of Inventory?
When conducting a physical inventory the classification, location and number in stock of a good should be recorded.
7 :: Do you know what Is Total Stocking Cost?
Total stocking cost is the cost to the store of holding a good in its inventory. The stocking cost consists of the carrying cost times half the quantity in inventory and the order completion cost times demand divided by the quantity. In its mathematical form the cost is represented by TSC=(Q/2)C + (D/Q)S.
8 :: Explain me what does inventory affect in a store?
Inventory levels and their values can affect the income of the store, the amount of taxes paid, and the total stocking cost.
9 :: Explain me what is the importance of EOQ?
The EOQ level is the point at which stocking costs are at their lowest point for a given item.
10 :: Tell us can forecasting help in controlling inventory?
Yes, through the use of forecasts inventory levels can be set to meet the demands while keeping levels as low as possible.