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Universally Challenged- Inventory Management Quiz!

A modern office environment with inventory management visuals, including graphs, stock shelves, and employees engaging with inventory systems.

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

11 Questions3 MinutesCreated by ManagingData202

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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