Physical Inventory - Policies & Procedures

20 Questions | By Smartu | Last updated: Jul 26, 2022 | Total Attempts: 1257

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Physical Inventory - Policies & Procedures - Quiz

The purpose of this quiz is to help all levels of store management develop a deeper understanding of the physical inventory process. Each store with an upcoming inventory should have all levels of management, from store manager to part-time key, take this quiz.

Questions and Answers

1.

Prior to the arrival of the inventory service, the freezer and deli backstock must be pre-counted and listed on a sheet to hand the inventory service supervisor.
- A.
  
  True
- B.
  
  False
2.

Please select the position listed below that best describes your current job title.
- A.
  
  Store Manager
- B.
  
  Senior Assistant Manager
- C.
  
  Assistant Manager
- D.
  
  Service Manager
- E.
  
  Produce Manager
- F.
  
  Meat/Deli Manager
- G.
  
  Load Crew Manager
- H.
  
  Full Time Person in Charge
- I.
  
  Part Time Person in Charge
- J.
  
  Other
3.

The inventory service must count all gift cards, phone cards, Enfamil shelf cards, and razor shelf cards in the store.
- A.
  
  True
- B.
  
  False
4.

If your store is in a city where plastic bags are banned, your store needs to count the full cases of plastic Smart & Final bags for inventory
- A.
  
  True
- B.
  
  False
5.

How will the store be notified of the inventory start time and number of people needed?
- A.
  
  Email from the Smart and Final’s Inventory Audit/Control associate
- B.
  
  Email from Inventory Service
- C.
  
  Phone Call from Inventory Service
- D.
  
  There will be no notification
6.

The store manager must ensure that the inventory service assigns individuals to count the backrooms and overheads based on which criteria?
- A.
  
  Tallest members
- B.
  
  Most experienced
- C.
  
  Newest team members
- D.
  
  Whomever arrives first
7.

Before the inventory begins, the store manager should have 3 boxes set up and properly labled for the inventory service supervisor to utilize during the inventory. What should those 3 boxes be labeled?
- A.
  
  "counted", "waiting to be counted", "waste paper"
- B.
  
  "paid", "past due", "needs approval"
- C.
  
  "to be checked", "needs correction", "completed"
- D.
  
  "errors found", "no errors found", "recorded"
8.

Styrofoam cups, lids, and containers may be counted as full cases.
- A.
  
  True
- B.
  
  False
9.

The store manager must be requesting and reviewing the exception report from the inventory service every:
- A.
  
  2 hours
- B.
  
  1 hour
- C.
  
  3 hours
- D.
  
  Anytime the inventory service goes on break
10.

To ensure the inventory is completed prior to opening the store the following morning, the time frame to complete a physical inventory, including the sales floor, backroom, and overheads is;
- A.
  
  Prior to 4am Monday morning
- B.
  
  6 hours counting with 1 hour wrap up
- C.
  
  When ever the service finishes
- D.
  
  No time frame, but they must show up with at least the same number of people they did last time
11.

Who is responsible for ensuring pallets of beer and soda are properly stacked to allow the inventory service to easily identify and count the different flavors?
- A.
  
  Store associates are the only ones that can prepare DSD product for Inventory
- B.
  
  The inventory crew does this as they count
- C.
  
  The DSD vendors must complete this prior to the inventory
- D.
  
  The district manager must complete this on one of his store visits prior to the inventory
12.

Once the inventory is completed, how many FINAL reports do you need to review and sign?
- A.
  
  1
- B.
  
  2
- C.
  
  3
- D.
  
  4
- E.
  
  5
- F.
  
  6
13.

How many hours before the store closes is the inventory service allowed to start counting the overheads and backrooms?
- A.
  
  3
- B.
  
  1
- C.
  
  2
- D.
  
  0 - no counts can occur while the store is open
14.

The inventory service is allowed to start counting the sales floor (shelves, endcaps, pallet displays, etc.) while the store is open for business.
- A.
  
  True
- B.
  
  False
15.

Smart and Final associates can pre-count product and submit lists to the inventory service only for the following:
- A.
  
  Any backstock area
- B.
  
  The entire backroom
- C.
  
  Palletized items located on the top of the pallet bays
- D.
  
  Backstock in the freezer
16.

Every inventory, the Store Manager must conduct a pre-inventory meeting with the inventory service team to explain the procedures and lay out the expectations.
- A.
  
  True
- B.
  
  False
17.

The inventory supervisor must notify you which team members have never counted before.
- A.
  
  True
- B.
  
  False
18.

How many store maps are needed during inventory to check off that counts have been completed in all areas?
- A.
  
  1 map - highlight each area in a different color
- B.
  
  2 maps - sales floor and backroom
- C.
  
  3 maps - overheads, sales floor, and backroom
- D.
  
  4 maps - overheads, sales floor, backroom, and produce/meat backstock
19.

On "eaches" stacked neatly in the overhead, you can turn the first one around to show the UPC, so the inventory crew can scan it. An inventory tag is not needed.
- A.
  
  True
- B.
  
  False
20.

Empty cases or items that are not to be counted during inventory should be tagged with "DNI" Do Not Inventory labels that are available to print from the 'Shrink' menu on the Shrink Dashboard.
- A.
  
  True
- B.
  
  False