Universally Challenged- Inventory Management Quiz!
Universally Challenged: Inventory Management Quiz
Test your knowledge in inventory management with this engaging quiz! Designed for professionals and enthusiasts alike, it covers essential concepts and terminologies crucial for effective inventory control in retail.
Challenge yourself with these key features:
- 11 multiple choice questions
- Immediate feedback on answers
- Boost your expertise in inventory management
What is MOC?
Moment of Completion
Moment of Certainty
Measuring of Completion
Measuring of Customers
What does FOA stand for?
Future Original Availability
Failed Original Availability
Focus on Availability
Fill on Arrival
Why do stores complete the FOA?
To make sure stock isn't missing from deliveries
To ensure our inventories are as accurate as possible. This helps with ordering the right stock to maximise sales, availability, & freshness, whilst minimizing waste. Its completed only when a moment of certainty is met.
To highlight overstocks and stop more stock being ordered. They can complete FOA whenever they want.
To make sure that RSS is working correctly
What does MAR stand for?
Merchandising Availability Report
Merchandising Action Report
Merchandising Available Replenishment
Maintenance and Repair
When do stores complete the MAR, and why?
They complete it once a week to ensure all stock is replanished and future orders are accurate
They complete it whenever they want to make sure all stock inventories are accurate
The MAR is completed 7 days a week and shows all lines that require attention from the Merchandising Controller. If it is not fully completed each day it will result in availability issues, poor displays and lost sales
Stores complete the MAR every Sunday and Wednesday, and it shows what lines require attention from the Merchandising Controller
What does ASN stand for?
Available Stock Note. They notify a store when a delivery is arriving
Available Space Notification. To help stores understand how many roll pallets are on a delivery
Advanced Shipment Notice. They contain the details for each roll pallet and what stock is on it
Advanced Shipping Number. A number assigned to deliveries when it will contain advanced delivery
How does a Store accept stock on deliveries to get it into inventory?
Scan every roll pallet as it's taken off the vehicle
Manually count every roll pallet as it's taken off the vehicle
They scan nothing. The system automatically does it for them through the "Auto Receive" process
They scan nothing. MAR, FOA and sales data controls inventory
When should Inventory Adjust be used?
Inventory Adjust must not be used to scan gaps and should only be used when completing MAR actions
When a customer returns a product
When completing the FOA
When changing inventories at any time during the day
What is salvage?
Returning valuable logistics assets into the network
Sending damaged trolleys back to supplier
Repairing damaged products to put on sale instead of throwing them away
Items damaged in the logistics network sent to store free of charge
Whats the average target turnaround time for a delivery?
1 hour
45 mins
30 mins
There is no target
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