When answering this question, focus on your hands-on experience with inventory management systems and techniques. Highlight specific tools or software you have used, such as ERP systems, and describe your approach to maintaining optimal stock levels. For example, you might discuss how you analyze sales data, forecast demand, and set reorder points. Mention any successful strategies you have implemented to reduce overstock or stockouts, and how you have collaborated with suppliers to ensure timely deliveries. Providing concrete examples and quantifiable results will strengthen your answer.
Example: "In my previous role as a Retail Buyer, I utilized the XYZ ERP system to manage inventory levels. I regularly analyzed sales data and market trends to forecast demand accurately. By setting precise reorder points and maintaining strong relationships with suppliers, I was able to reduce stockouts by 20% and decrease excess inventory by 15%. Additionally, I implemented a just-in-time inventory system that improved our cash flow and reduced storage costs."
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