The first step in preparing for a successful interview outcome is forecasting the possible questions that you would encounter in the interview board. Research shows that those who adopt this approach performs two to five times better in an interview compared to the unprepared mind.
The benefit of this approach is multi-fold. One, it helps you to study the job description thoroughly. Second, you will do some amount of research. Only after these two steps one would think of coming out with the possible list of questions. Third, it builds enormous confidence inside you to face the interview board. Fourth, since you had already gone through the typical questions, you will be in a better position to listen, understand and analyse the questions and will be able to organise and articulate the answer.
Here is our small support in this direction. We have generated a series of possible questions running into several thousands and released in a periodical manner. All the questions may not be relevant for your position, but this list will certainly help you to trigger the right questions that are suitable to you.
Certified Inventory Optimization Professional
CIOP is a global supply chain management and inventory management certification program exclusively developed for corporations to optimize the inventory in their supply chain. CIOP teaches the global best practices in 30 modules over 90 hours of live, faculty-led, online training. It is founded on Inventory Management Body of Knowledge (IMBoK) version 3.0. CIOP is a comprehensive program includes training, reference material, Learning Management and Assessment System (LMAS), examination and certificate.
The LMAS contains classroom presentations, classroom notes, video lessons, audio lessons, quizzes, reference materials, terminologies and articles recommended by faculty.
The CIOP Examination is 3 hours, online, proctored examination with 180 multiple-choice questions. The participant needs to secure 70% of the maximum score (360 marks) to pass in the examination.
You can learn more about the CIOP certification in the below links:
CIOP Website: https://pages.fhyzics.net/ciop
Faculty Profile: https://pages.fhyzics.net/principal-consultant
Click here to request quote for the CIOP certification program.
Supply Chain Interview Questions
1. Describe physical inventory and logical inventory.
2. What is inventory reconciliation?
3. What is the requirement for inventory reconciliation in an organisation?
4. Recommend a suitable inventory valuation method for this organisation. What is the impact of this method on the Balance Sheet and Income Statement?
5. What is the impact of FIFO on financial statements when the raw material prices are rising?
6. What are all the steps you would possibly take to increase the inventory turnover ratio?
7. How would you calculate the average inventory with a reasonable accuracy?
8. From which financial statements will you take the COGS?
9. Describe days of supply and how it helps a supply chain professional?
10. What are all the components you would consider while calculating the inventory carrying cost?
The above questions are applicable to the following positions: