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Inventory Mastermind Quiz

Find out how knowledgeable are you in inventory management:

Make Sure You fill answer all questions!

Excellent – you are professional!

Well done – you have fair Knowledge

Good effort. You’ll do better next time.

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    1.
    Who should decide on key inventory-related policy at your company?
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    2.
    Which method does your company use to calculate safety stock levels?
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    3.
    Which types of analyses do you perform to pinpoint the causes of excess and obsolete Inventory?
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    4.
    What are the best indicators to highlight excess inventory?
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    5.
    What is the best method to forecast inventory requirements?
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    6.
    What are the financial risks of maintaining high level of inventory beyond max levels?
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    7.
    What is the correct focus for resources within a purchasing group? :
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    8.
    How can a company improve the quality of inventory received from the supplier?
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    9.
    How best is the inventory managed when utilizing VMI services?
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    10.
    What is the significant difference between consignment inventory program and VMI program?