Physical Inventory - Policies & Procedures

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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

    Correct Answer
    B. False
    Explanation
    The statement is false because it states that the freezer and deli backstock must be pre-counted and listed on a sheet before the arrival of the inventory service. However, there is no mention of any requirement for pre-counting and listing in the question. Therefore, the correct answer is false.

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  • 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

    Correct Answer
    B. False
    Explanation
    The statement is false because the inventory service is not required to count all gift cards, phone cards, Enfamil shelf cards, and razor shelf cards in the store.

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  • 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

    Correct Answer
    B. False
    Explanation
    If your store is in a city where plastic bags are banned, your store does not need to count the full cases of plastic Smart & Final bags for inventory. Since plastic bags are banned in the city, it would not make sense for the store to include them in their inventory count as they cannot be sold or used. Therefore, the statement is false.

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  • 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

    Correct Answer
    A. Email from the Smart and Final’s Inventory Audit/Control associate
    Explanation
    The store will be notified of the inventory start time and number of people needed through an email from the Smart and Final's Inventory Audit/Control associate.

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  • 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

    Correct Answer
    B. Most experienced
    Explanation
    The store manager must ensure that the inventory service assigns individuals to count the backrooms and overheads based on the criteria of the most experienced. This is because experienced individuals are likely to have a better understanding of the inventory system and are more likely to accurately count and record the items in the backrooms and overheads. Their experience will help ensure that the inventory count is done efficiently and accurately.

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  • 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"

    Correct Answer
    C. "to be checked", "needs correction", "completed"
    Explanation
    The three boxes should be labeled as "to be checked", "needs correction", and "completed" to facilitate the inventory process. The items that have been counted but need to be double-checked should be placed in the "to be checked" box. Any items that are found to have errors or discrepancies should be placed in the "needs correction" box. Finally, the items that have been verified and are accurate should be placed in the "completed" box. This labeling system helps to organize and streamline the inventory process.

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  • 8. 

    Styrofoam cups, lids, and containers may be counted as full cases.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    Styrofoam cups, lids, and containers cannot be counted as full cases because they are individual items and not packaged together in cases.

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  • 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

    Correct Answer
    B. 1 hour
    Explanation
    The store manager needs to request and review the exception report from the inventory service every 1 hour to ensure that any issues or discrepancies in the inventory are promptly identified and addressed. This frequent review allows the manager to stay updated on the inventory status and take necessary actions to maintain adequate stock levels and prevent any potential loss or disruption in the store's operations.

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  • 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

    Correct Answer
    B. 6 hours counting with 1 hour wrap up
    Explanation
    The correct answer is 6 hours counting with 1 hour wrap up. This means that it will take a total of 6 hours to complete the physical inventory, with an additional 1 hour for wrapping up any remaining tasks. This time frame ensures that the inventory is completed before the store opens the following morning.

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  • 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

    Correct Answer
    C. The DSD vendors must complete this prior to the inventory
    Explanation
    The DSD vendors are responsible for ensuring that the pallets of beer and soda are properly stacked to allow the inventory service to easily identify and count the different flavors. They need to complete this task before the inventory takes place.

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  • 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

    Correct Answer
    F. 6
    Explanation
    Since the question states "Once the inventory is completed," it implies that there are multiple reports to review and sign. Therefore, after completing the inventory, all six final reports need to be reviewed and signed.

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  • 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

    Correct Answer
    B. 1
    Explanation
    The correct answer is 1. The inventory service is allowed to start counting the overheads and backrooms 1 hour before the store closes.

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  • 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

    Correct Answer
    B. False
    Explanation
    The inventory service is not allowed to start counting the sales floor while the store is open for business.

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  • 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

    Correct Answer
    C. Palletized items located on the top of the pallet bays
    Explanation
    Associates at Smart and Final are allowed to pre-count and submit lists to the inventory service for specific areas. These areas include any backstock area, the entire backroom, backstock in the freezer, and palletized items located on the top of the pallet bays. This means that associates can count and record the inventory for these specific areas before it is officially counted by the inventory service.

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  • 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

    Correct Answer
    A. True
    Explanation
    The given statement is true. The Store Manager is responsible for conducting a pre-inventory meeting with the inventory service team before every inventory. This meeting is important as it allows the Store Manager to explain the procedures and expectations to the team. By doing so, the Store Manager ensures that everyone is on the same page and understands what needs to be done during the inventory. This meeting helps in organizing and coordinating the inventory process effectively.

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  • 17. 

    The inventory supervisor must notify you which team members have never counted before.

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The statement is true because the inventory supervisor is responsible for keeping track of the team members who have never counted before. This information is important to ensure that all team members are trained and familiar with the inventory counting process. By notifying you about the team members who have never counted before, the supervisor can ensure that proper training and guidance are provided to them. This way, the inventory counting process can be carried out efficiently and accurately.

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  • 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

    Correct Answer
    C. 3 maps - overheads, sales floor, and backroom
    Explanation
    During inventory, it is necessary to check off that counts have been completed in all areas. To ensure this, three maps are needed. These maps include overheads, sales floor, and backroom. By having separate maps for each of these areas, it becomes easier to track and verify that the counts have been completed in each specific location.

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  • 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

    Correct Answer
    A. True
    Explanation
    The explanation for the given answer is that by turning the first "eaches" item around to show the UPC (Universal Product Code), the inventory crew can easily scan it without the need for an inventory tag. This suggests that the statement is true.

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  • 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

    Correct Answer
    A. True
    Explanation
    The explanation for the given correct answer is that empty cases or items that are not to be counted during inventory should indeed be tagged with "DNI" (Do Not Inventory) labels. These labels can be printed from the "Shrink" menu on the Shrink Dashboard. Therefore, the statement "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" is true.

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