Walmart Asessment Inventory and Store Operations 2

Question 1

What is 'shrinkage' in retail terms?

Accepted Answer

Loss of inventory due to theft, damage, or administrative error

Answer

Shrinkage refers to inventory loss from shoplifting, employee theft, damage, and record-keeping errors.

Question 2

What is the benefit of scanning items when receiving a shipment?

Accepted Answer

It ensures inventory records are updated accurately and discrepancies are caught early

Answer

Scanning items during receiving verifies the shipment matches the order and updates inventory automatically.

Question 3

What does 'overstock' mean in retail?

Accepted Answer

Excess inventory beyond what is needed or can be stocked on the floor

Answer

Overstock is inventory that exceeds floor capacity or current demand and is often stored in the back room.

Question 4

Why is it important to rotate stock when restocking shelves?

Accepted Answer

To ensure older products are sold first and reduce waste from expiration

Answer

Rotating stock using FIFO ensures older products sell first reducing waste from expiration or damage.

Question 5

An inventory count shows 50 units in the system but you only find 42 on the shelf. What should you do?

Accepted Answer

Investigate potential causes such as theft, misplacement, or receiving errors, then report

Answer

Investigating inventory discrepancies identifies root causes such as shrinkage or errors before correcting records.

Walmart Asessment Practice Test