CCP Warehouse Receipt & Inventory 3 — Questions and Answers
Question 1: In CargoWise, what is the primary purpose of a stock adjustment transaction?
- To update the purchase price of inventory items
- To correct discrepancies between physical and system stock quantities (Correct answer)
- To generate customs declarations for stored goods
- To assign new location codes to existing inventory
Correct answer: To correct discrepancies between physical and system stock quantities
Stock adjustments in CargoWise are used to reconcile the system's inventory count with actual physical counts, adding or subtracting quantities as needed.
Question 2: In CargoWise WMS, 'lot tracking' enables warehouse operators to:
- Monitor the transportation route of outbound shipments
- Track specific batches or production runs of a product through inventory (Correct answer)
- Record customs duties paid on imported goods
- Schedule delivery appointments with consignees
Correct answer: Track specific batches or production runs of a product through inventory
Lot tracking in CargoWise links inventory to a specific production batch or lot number, enabling traceability for recalls, expiry management, and quality control.
Question 3: Which inventory valuation method—commonly used in CargoWise—issues oldest stock first when goods are dispatched?
- LIFO (Last In, First Out)
- HIFO (Highest In, First Out)
- FIFO (First In, First Out) (Correct answer)
- NIFO (Next In, First Out)
Correct answer: FIFO (First In, First Out)
FIFO (First In, First Out) dispatches the earliest-received inventory first, which is the default and most common method supported in CargoWise WMS.
Question 4: In CargoWise, when a warehouse receipt is linked to a forwarding job, which reference typically ties the two records together?
- The AWB or BL number from the forwarding shipment (Correct answer)
- The customs entry number
- The transport booking reference
- The insurance certificate number
Correct answer: The AWB or BL number from the forwarding shipment
The Air Waybill (AWB) or Bill of Lading (BL) number is the shared key that links a CargoWise forwarding job to its corresponding warehouse receipt.
Question 5: In CargoWise WMS, 'expiry date tracking' is most critical for which category of cargo?
- Machinery and heavy equipment
- Steel and metal products
- Perishable goods and pharmaceuticals (Correct answer)
- Construction materials
Correct answer: Perishable goods and pharmaceuticals
Perishables and pharmaceuticals have strict shelf-life requirements, making expiry date tracking in CargoWise essential to prevent dispatch of out-of-date stock.
Question 6: When conducting a physical inventory count in CargoWise, which process compares the counted quantities against system records and resolves differences?
- Stock reconciliation (Correct answer)
- Stock dispatch
- Goods receipt verification
- Cycle count finalization
Correct answer: Stock reconciliation
Stock reconciliation in CargoWise systematically compares physical counts to system quantities and generates adjustment transactions to align them.
Question 7: In CargoWise, applying a 'quarantine' inventory status primarily means:
- The goods have been cleared for immediate dispatch
- The goods are held and cannot be dispatched until officially released (Correct answer)
- The goods have been written off the inventory record
- The goods are in transit between two warehouse locations
Correct answer: The goods are held and cannot be dispatched until officially released
Quarantine status in CargoWise flags inventory as held, blocking dispatch actions until an authorized user reviews and releases the goods.
CCP Warehouse Receipt & Inventory 3
In CargoWise, what is the primary purpose of a stock adjustment transaction?