Inventory Management and Store Operations Flashcards
7 cards from real CVS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Inventory Management and Store Operations flashcards as text
When a CVS store associate notices that a product on the shelf has fallen below the minimum stock level, what is the FIRST action they should take?
Answer: Check the stockroom for additional inventory before placing an order
Associates should always check the stockroom first, as product may already be on hand and simply needs to be brought to the floor.
What does the acronym FIFO stand for in CVS inventory management?
Answer: First In, First Out
FIFO stands for First In, First Out, meaning older stock should be placed at the front and sold before newer stock to prevent expiration.
A CVS colleague receives a shipment but notices one box is damaged and some products appear compromised. What should the colleague do?
Answer: Refuse the damaged items and document the discrepancy on the delivery receipt
Damaged items should be refused and the discrepancy documented on the delivery receipt to initiate the proper returns/claims process.
Which of the following best describes a planogram in a CVS store?
Answer: A visual diagram showing how products should be arranged on shelves
A planogram is a visual merchandising tool that specifies exactly how and where products should be displayed on shelves.
When conducting a cycle count in a CVS store, what is the PRIMARY purpose?
Answer: To verify that the physical inventory matches the system records for specific sections
Cycle counts are partial inventory checks done regularly to ensure that what the system shows on hand matches what is actually on the shelf or in the stockroom.
A customer asks a CVS associate to check if a product is available that is not on the shelf. What is the BEST approach?
Answer: Check the stockroom and the store's inventory system before giving a definitive answer
The best approach is to verify in both the physical stockroom and the inventory system to give the customer accurate information before suggesting alternatives.
At CVS, which of the following is a common reason for inventory shrinkage?
Answer: Employee theft, shoplifting, and administrative errors
Inventory shrinkage results from theft (internal and external) and administrative errors such as miscounts, mislabeling, or receiving errors.