Supply Chain Management Quiz

Questions and Answers

What can happen if a store counts too little of a specific good?

The store will have the correct amount of goods.

The store may run out of ingredients to make products. (correct)

The customers will be satisfied.

The store will always order less than needed.

The ideal stock is determined automatically on Wednesdays.

False

What does OOS stand for in stock management?

Out Of Stock

Effective communication with the purchasing manager is essential for __________ assessments.

proactive ideal Signup and view all the answers

Match the following terms with their descriptions:

WASTE = Items thrown out due to overstocking KPI = Key Performance Indicator used for tracking IDEALS = Optimal number of specific items P.L.T = Potential Lost Turnover due to stock issues Signup and view all the answers

What should be done before counting bar stock?

Count after the store is closed Signup and view all the answers

A recount report is sent out on Sundays between 20-21 hours.

True Signup and view all the answers

What indicates a need for ideal adjustment in stock assessment?

Zero stock Signup and view all the answers

The significant over or under usage requires entering data in ______.

IMS Signup and view all the answers

Match the stock terms with their definitions:

Negative Usage = More stock this week compared to last week's count and delivery. Type in Mistake = A clear mistake due to wrong quantities entered. No Usage = Same quantity counted as last week. Count Too Much = Too much of a specific good counted compared to actual stock. Signup and view all the answers

Study Notes

Stock Management Overview

Running out of ingredients can prevent the store from making specific products, resulting in guest dissatisfaction.
Insufficient counting of goods leads to over-delivery, causing waste and disposal of excess products.

Performance Metrics

Out Of Stock (OOS) is a key performance indicator (KPI) linked to the "Ideals" metric.
Ideals represent the optimal number of specific items required, with counts taken affecting Wednesday’s ideals while Friday's ideals are automated.
Correct ideal assessments aim to eliminate issues like Out Of Stock events, store transfers, and Potential Lost Turnover (P.L.T).

Daily Operations

Regular bar operations provide valuable insights for proactive ideal assessments.
Adjust ideals upwards if specific goods are consistently low, and always count stock after store closure for accuracy.
Breaking down stock counts into smaller areas aids in error reduction and simplifies future counts.

Recount Procedures

Recount Reports are issued each Sunday between 20:00-21:00, documenting significant over or under usage.
Types of reports include:
- NO USAGE: Stock level unchanged from the previous week.
- TYPE IN MISTAKE: Errors from incorrect quantity entries.
- ZERO STOCK: Indicates a need for ideal adjustment when no stock is available.
- NEGATIVE USAGE: More stock reported than the previous week, indicating discrepancies.

Stock Handling Framework

Effective stock handling involves numerous components including:
- Count, Recount, and tracking Negative Usage.
- Managing Orders, Deliveries, and Waste Control.
- Adherence to deadlines for optimal stock management.

Organizational Structure

Stock management is crucial for store operations, supported by various managerial roles:
- Bar Managers, Regional Managers, and Area Managers collaboratively enhance operational efficiency.
- Support functions include Finance, HR, Training, and Supply Chain, all vital for fostering a customer-centric environment.

Vision and Goals

Aiming to establish a globally recognized people-centric food and beverage brand by delivering exceptional experiences for staff and guests through rigorous stock control and operational excellence.

Description

This quiz explores the challenges and strategies in supply chain management, particularly how ingredient shortages can affect product availability and customer satisfaction. Participants will evaluate the impact of various factors on profit and operational efficiency.