Gnrc Hospital Purchase Executive Interview Questions and Answers

To maintain reorder level, monitor inventory levels regularly, set appropriate reorder points, establish reliable suppliers, and use inventory management software.

• Regularly monitor inventory levels to identify when stock is running low

• Set appropriate reorder points based on lead time, demand, and safety stock

• Establish reliable suppliers to ensure timely delivery of goods

• Utilize inventory management software to track in...read more

EOQ stands for Economic Order Quantity.

• EOQ is a formula used in inventory management to determine the optimal order quantity that minimizes total inventory costs.

• It takes into account factors such as demand, ordering costs, and holding costs.

• The formula for EOQ is: EOQ = √((2 * demand * ordering cost) / holding cost)

• EOQ helps in balancing the costs of ordering too frequently (resulting in high ordering costs) and order...read more

CS can be made by understanding customer needs, providing quality products/services, and ensuring timely delivery.

• Understand customer needs and preferences

• Provide quality products/services

• Ensure timely delivery

• Maintain good communication with customers

• Regularly review and improve processes

• Offer competitive pricing

• Provide excellent customer service

• Build strong relationships with suppliers

• Stay up-to-date with industry tr...read more