Interview Questions.

Question 1. What Is An Order Quantity?

Answer :

An order quantity is the amount of products that an order requests be shipped to the shop.

Question 2. Explain What Should Be Recorded In A Physical Count Of Inventory?

Answer :

When conducting a physical inventory the category, region and wide variety in stock of an excellent should be recorded.

Project Management Interview Questions
Question three. Tell Me Can Forecasting Help In Controlling Inventory?

Answer :

Yes, through the use of forecasts stock levels may be set to satisfy the demands whilst keeping ranges as low as viable.

Question four. What Are Important Steps In Procurement Life Cycle?

Answer :

Procurement Process starts offevolved with accumulating requirements, then growing a buy requisition and then we create a formal file that needs to be despatched to vendor i.E. Buy order. After this goods may be provided with the aid of supplier and goods receipt is accomplished along side invoice verification. Then vendor is paid for furnished items and services.

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Question five. What Is Lead Time?

Answer :

Lead time is the period of time from which a order for items is placed till it's far received via the store. Lead time is an vital attention for determining while orders should be positioned.

SAP MM Interview Questions
Question 6. What Is Demand?

Answer :

Demand is the quantity that clients are inclined to buy. Demand may be located thru forecasting and is needed to find the EOQ stage.

Question 7. What Types Of Forecasting Can I Do?

Answer :

There are two forms of forecasting qualitative and quantitative. Qualitative makes use of personal opinions to determine forecasts. Quantitative uses numerical facts and statistical modeling to determine forecasts.

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Question 8. What Is Forecasting?

Answer :

Forecasting is the system of estimating the future call for of a product.

Question 9. What Are Batches And How Are They Searched?

Answer :

A batch is a set of similar objects from your inventory which have the equal traits. For instance, all food items produced on a particular day belong to 1 batch.

Batches are searched using the same old facility (suit code, key F4) based totally at the batch names or other residences that distinguish them from others.

Procurement Interview Questions
Question 10. What Makes A Good Forecasting Model?

Answer :

A true forecast version will have reasonable prices. The accuracy of its forecasts will permit precise choice making. The model could have ample statistics available for its use and a applicable time span. The model eventually may have a low interference degree.

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Question 11. What Are The Various Functions /features In Purchasing?

Answer :

The purchasing view includes RFQ / Quotation, Purchase Requisition (PR), Purchase Order (PO), Master Data that has numerous fields like information report, source list, conditions, carriers and so forth. And eventually Outline Agreements.

Store Keeper Interview Questions
Question 12. What Is A Rfq And How It Is Different From Quotation?

Answer :

RFQ is request for quotation and it's far a shape of invitation that is despatched to companies to post citation indicating pricing and their phrases and situations while quotation is a respond through a dealer in reaction to request for citation.

Project Management Interview Questions
Question 13. When Should Reorders Be Placed?

Answer :

Times for reordering goods range dependent on the control device you operate and its lead time. In fixed order quantities reorders should be positioned while the protection stock is reached. In fixed length systems the reordering is performed at set time periods. In just in time systems reordering is based on matching the demand with deliver. For just in time a close watch on inventory stages is wanted so that reorders are positioned before goods are out of stock.

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Question 14. What Are Transactions That Will Cause Change In Stock?

Answer :

Goods receipt and goods trouble will motive exchange in stock as goods receipt will increase warehouse inventory and items issue will lower warehouse inventory.

Question 15. If Inventory Controls Are Followed, What Can I Expect?

Answer :

By following your inventory coverage you need to be able to understand critical benefits in stock manipulate. The first is decreased charges for inventories, in conjunction with reduced amounts of stock. Theft and shrinkage must additionally be decreased if stock policy is accompanied. The very last benefit will be multiplied income for the store.

Global Sourcing Interview Questions
Question 16. What Is Material Type?

Answer :

Materials with a few commonplace attributes are grouped together and they may be assigned to a material type. This will differentiate materials and permit corporation to manipulate unique materials in systematic way according to agency's requirement.

Question 17. What Are The Different Kinds Of Special Stocks Available?

Answer :

Special stocks available are consignment shares (from seller), subcontracting stocks (to sun-contractor), undertaking stocks, pipeline substances, sales order stocks, stock transfer and third birthday party.

Strength of Materials Interview Questions
Question 18. Suppose If I Get A Discount Will It Effect The Eoq Model?

Answer :

Yes, a reduction will purpose the simple EOQ version to fail. To use a reduction in decide a EOQ you ought to use the EOQ model with quantity discounts.

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Question 19. What Is Material And Vendor Data Available At All Organizational Levels?

Answer :

Yes, cloth and vendor records is available at all tiers as it is generally created for agency and it's miles legitimate for the stages underneath corporation.

Question 20. Explain How Stock Is Being Transferred From One Plant To Another Plant?

Answer :

Stock within plant life is transferred with the assist of inventory delivery order. One plant order the products internally from some other plant(receiving plant/issuing plant) with the assist of stock shipping order.

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Question 21. What Is Release Procedure?

Answer :

Release process manner approval of files like buy orders and buy requisition manually via the standards described inside the configuration.

Question 22. What Is The Eoq Formula?

Answer :

The EOQ components is the rectangular root of two instances call for times order of completion price divided via wearing fee. The mathematical method is rectangular root of 2DS/C.

Question 23. When Should A Physical Inventory Be Taken?

Answer :

A inventory need to be taken at least once a yr. If items are perishable, seasonal or distinctly demanded a inventory have to be taken more often.

Stored Procedures Interview Questions
Question 24. What Do You Mean By Consignment Stock?

Answer :

In Consignment, material is to be had at our keep premises, but it nonetheless belongs to the seller(seller)/Owner of the cloth. If you utilize the material from consignment stocks, then you need to pay to the vendor.

Supply Chain Management Interview Questions
Question 25. Does The Model Always Work?

Answer :

No, the version best works for the ones cases that meet its assumptions.

Question 26. How Do You Create A Pricing Procedure?

Answer :

The steps concerned in developing a pricing process are:

Create circumstance tables. 
Create get admission to series in step with the various situation tables.
Create circumstance kinds. 
Assign access sequence to situation kind.
Create the pricing procedure. 
List down all the situation kinds so as with the intention to in shape the commercial enterprise and pricing requirements.
Material Handler Interview Questions
Question 27. If You Have Multiple Line Items In Purchase Order, Can You Release Line By Line That Purchase Order?

Answer :

No, release is completed only at header level in a blended way for all line gadgets in case of purchase order.

Procurement Interview Questions
Question 28. What Is The Difference Between A Contract And Scheduling Agreement?

Answer :

While a scheduling agreement is for consignment, subcontracting and stock transfer, a settlement is for Standard items and can be restrained to a sure quantity or price.

A settlement may be created centrally with specific pricing situations for every plant whereas a scheduling settlement needs to be created at that particular plant vicinity. In a settlement, simplest time-dependant conditions can be created while in a scheduling agreement, you may have time-dependant or time-unbiased situations challenge to the customizations in the report type.

Question 29. Can A Computer Help In Forecasting Future Demand?

Answer :

Yes, In the market today there are many laptop software program applications that could compute forecasted demand for items held in stock.

Question 30. Explain The Importance Of Eoq?

Answer :

The EOQ stage is the point at which stocking expenses are at their lowest point for a given object.

Question 31. What Is Source List?

Answer :

Source listing consist of listing of feasible assets of supply for a material over a given framework of time. A unique fabric can be ordered from specific carriers in distinct time durations. This records can be maintained in a supply list.

Question 32. What Makes Eoq Work For Inventory Control?

Answer :

The EOQ works if its four assumptions suit the case it's miles used on. The assumptions are:

Annual demand, sporting charges and ordering costs may be anticipated.
Inventory degree is split with the aid of 2, no protection stock, goods used uniformly and are gone with the aid of subsequent order.
Stock-out, customer responsiveness and different costs now not considered.
No quantity discounts.
Question 33. What Does Eoq Stand For?

Answer :

EOQ stands for Economic Order Quantity.

Store Keeper Interview Questions
Question 34. Explain What Is Invoice Verification?

Answer :

Once goods are procured from seller and positioned in enterprise's premises through items receipt then we need to pay to supplier for acquired items and offerings. The quantity to be paid in conjunction with details of fabric is furnished through dealer in form of file that is referred to as invoice. Before paying to seller we need to verify the invoice. This technique of verifying invoice and paying to vendor is known as bill verification.

Question 35. Explain What Do You Mean By Reservation?

Answer :

Sometimes, inventory need to be blocked in advance in order that it can be to be had at a selected factor of time. This is referred to as reservation. Reservation guarantees that inventory is to be had and it is able to be used when required. Reserved amount may be viewed by means of tcode MMBE.

Question 36. What Is The Importance Of Eoq?

Answer :

The EOQ level is the point at which stocking costs are at their lowest factor for a given item.

Global Sourcing Interview Questions
Question 37. What Are The Types Of Reordering Systems That Can Be Used In Inventory Control?

Answer :

There are numerous types of reordering structures, on this module we mentioned three. The fixed order quantity makes use of constant quantities of goods ordered at various order factors to top off stock. The fixed order duration use constant instances of reorder with diverse order portions to refill stock to preset ranges. The final machine, just in time uses a steady drift of goods to in shape the level of demand.

Question 38. Explain What Are Some Of The Movement Types For Stock Transport Order?

Answer :

One step transfers of materials can be posted the use of motion type 301. Other movement types are 303, 351, 641, or 643 within the inventory shipping order.

Question 39. What Is Difference Between Planned And Unplanned Services?

Answer :

In planned offerings on the time of procurement specifications like quantity and fee are acknowledged in advance. It method nature and scope of carrier is obvious before procurement whereas in unplanned offerings on the time of procurement specs like amount and fee aren't recognized in advance. It approach nature and scope of provider isn't clear before procurement. These offerings can be extended as consistent with the requirement.

Question forty. What Do You Mean By Outline Agreement?

Answer :

Outline settlement is a long time buying settlement with vendor containing terms and situations concerning the fabric that is provided by using vendor. Outline agreement are valid as much as certain period of time and cowl a sure predefined amount or fee.

Strength of Materials Interview Questions
Question forty one. What Is Inventory Control?

Answer :

Inventory manage is the manner of lowering stock costs whilst closing responsive to patron demands. By this definition a shop might want to lower its acquisition, wearing ordering and stock-out prices to their lowest feasible tiers. However a store could want to have enough inventories to fulfill any desires of its clients.

Question 42. What Do You Mean By Special Stocks?

Answer :

Special shares are stocks which are managed otherwise as these shares did not belong to enterprise and these are being kept at a few unique place.

Material Design Lite Interview Questions
Question forty three. What Is Difference Between Contract And Scheduling Agreement?

Answer :

Contract is a long time outline agreement between dealer and ordering birthday party over predefined cloth or offerings over sure framework of time whereas scheduling agreement is a long term define agreement among dealer and ordering birthday celebration over a predefined fabric or carrier which are procured on predetermined dates over a framework of time.

Question forty four. What Is Interference?

Answer :

Interference is a aspect in forecasting demand. Interference is made of all of the elements that a forecaster has no manipulate over. Factors that may be taken into consideration interference include herbal failures, uncommon patron needs, or uncommon events within the commercial enterprise duration.

Question 45. What Do The Letters In The Eoq And Stocking Cost Formula Stand For?

Answer :

The letters inside the formulation constitute the quantity ordered(Q), the wearing cost of a unit(C), the demand for the units(D) and the cost of completing a order(S).

Question forty six. How Does The Consignment Cycle Operate?

Answer :

The diverse steps in consignment cycle are:

Create consignment info document with proper tax code.
Create Purchase order with object category K. 
Create output condition record for KONS (output type).
Authorize Goods Receipt (GR).
Payment is settled via MRKO transaction although invoice verification is not achieved.
Question 47. What Is A Gr Blocked Stock And When Is It Used?

Answer :

The GR blocked inventory is an choice utilized in the goods receipt process when you aren't certain about the fine of the products acquired. In this type of case, the stock is maintained as GR blocked either from a fabric point of view or exclusively for a buy order item.

Question 48. What Is A Order Point?

Answer :

A order factor is a factor in time at which a order is positioned to refill goods in inventory.

Question forty nine. What Is Mrp? And How Is Lot Size Used?

Answer :

MRP is short for Materials Requirements Planning and it's miles a manufacturing planning approach it really is used to manipulate the producing technique. It is essentially used to decide your Material Planning procedure by specifying the numerous conditions like Reorder Point, Seasonal Requirement, Replenishment, Vendor Managed, Forecast Based and Master Production Scheduling (MPS). Lot size specifies the character of cloth requirement in phrases of Weekly, Monthly, Quantity and Maximum Replenishment.

Question 50. Can Forecasting Help In Controlling Inventory?

Answer :

Yes, thru the use of forecasts stock levels can be set to satisfy the demands at the same time as keeping ranges as low as possible.