Fhyzics brought out this series of articles on supply chain interview questions to help the supply chain aspirants better prepare for supply chain job interviews. Each article will contain fifty questions in one of the supply chain sub-domains and are equally applicable to all industries.
Fhyzics Business Consultants Pvt. Ltd. – a boutique business consulting firm specialising in supply chain management, procurement, business analysis and new product development. Fhyzics offers consulting, certifications, and civil services training and conducts conferences. Fhyzics represents the Association of Supply Chain Management (ASCM/APICS), USA; Chartered Institute of Procurement and Supply (CIPS), UK; EEP of International Institute of Business Analysis, IIBA, Canada; REP of International Requirements Engineering Board, IREB, Germany; Indian Affiliate of Product Development and Management Association, PDMA, USA.
Top 50 Supply Chain Interview Questions Part One
1. What is Inventory Pooling?
2. How do you classify inventory?
3. Describe the functions of inventory?
4. What is the best inventory turnover ratio for our industry? And your suggestions to improve upon it?
5. Tell me your approach to designing a Cycle Counting procedure?
6. How will you improve inventory accuracy in our industry?
7. What are all the types of inventories?
8. Define inventory.
9. Does the supply chain exist for the inventory or vice-versa? Your comments.
10. How are raw materials different from components?
11. What is the numbering nomenclature for raw materials?
12. Who are all the most important stakeholders for raw materials and components?
13. Which type of inventory exists in various forms within the organization?
14. What methodology can you implement to draw a line between raw materials and components?
15. In the annual turnover, what percentage (a ballpark) is bought as raw material in a company?
16. What are all the different raw materials we buy in this company?
17. Describe batch and continuous work-in-process with examples.
18. How how long (time) will work-in-process travel in an organization?
19. What is MRO? Give some examples.
20. How do you differentiate between finished goods and distribution inventory?
21. For what reasons should a company closely monitor its distribution inventory?
22. What is the difference between a dependent and independent demand item?
23. What is connecting the dependent and independent demand items?
24. Describe the functions of anticipation inventory with scenarios.
25. What is cycle stock? Why is it stored in larger quantities than safety stock?
26. What are all the factors you would consider while determining the safety stock of a component?
27. Which inventory function is related to the Theory of Constraints (ToC)?
28. While deciding on hedge inventory, how do you factorize the impact of carrying cost and the price drop in the raw material?
29. What happens to a stagnant inventory over a period?
30. What are the various inventory disposal methods to minimize the loss?
31. What are all the various ABC criteria you have applied in the past?
32. Do you agree that a company can have multiple ABC classifications? Why or why not?
33. What is Enterprise Inventory Policy (EIP) and its components?
34. What could be an organization's typical objectives of inventory management?
35. What are the different methods of inventory valuation?
36. Why is inventory auditing necessary for an organization?
37. Describe physical inventory and logical inventory.
38. What is inventory reconciliation?
39. What is the requirement for inventory reconciliation in an organization?
40. Recommend a suitable inventory valuation method for this organization. What is the impact of this method on the Balance Sheet and Income Statement?
41. What is the impact of FIFO on financial statements when the raw material prices are rising?
42. What steps would you possibly take to increase the inventory turnover ratio?
43. How would you calculate the average inventory with reasonable accuracy?
44. From which financial statements will you take the COGS?
45. Describe days of supply and how it helps a supply chain professional?
46. What components would you consider while calculating the inventory carrying cost?
47. What is the impact of LIFO on the financial statement when the raw material prices are rising?
48. Which inventory valuation method is most suitable for a liquid chemical company?
49. What are all the components of ordering costs?
50. Describe the elements of carrying cost and how you would build a model to track inventory carrying cost for an organization.
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The fifty questions presented above will help the following supply chain job interviews.
Demand Planner; Production Planner; Supply Planner; Supply Chain Analyst; Supply Chain Head; Inventory Controller; Materials Planner; VP Supply Chain; Warehouse Executive; Warehouse Manager; Inventory Analyst; Master Planner; Master Scheduler; Materials Manager; Category Manager; Commodity Manager; Procurement Specialist; Purchasing Manager; Sourcing Manager; Operations Manager; Operations Director; Production Manager; Production Scheduler; Logistics Coordinator; Logistics Manager; Transportation Analyst; Inventory Manager; Director of Supply Chain; Consultant; Buyer Planner; Logistics Resource Planner; Load Planner; Quality Manager; Production Supervisor; Production Operative; Strategic Sourcing Manager; Purchasing and Inventory Clerk; Logistics Administrator; Reverse Logistics Manager; Transport Administrator; Supply Chain Solution Design Analyst; Warehouse Clerk; Production Clerk; Production Technician; Inventory Associate; Export Manager; Capacity Manager; Manufacturing Manager; Plant Manager; VP of Operations; VP of Manufacturing; Supply Clerk; Replenishment Manager; Director of Procurement; Purchasing Agent; Vendor Manager; Fulfillment Associate; Route Manager; Import Manager; Distribution Manager; Director of Transportation; Operations Assistant; Quality Technician; Business Process Analyst; Quality Assurance Engineer; Continuous Improvement Manager; Planning Engineer; Lean, Six Sigma Specialist; SAP Consultant; Import Export Executive; Supply Network Specialist; Material Availability Analyst; Team Manager SCM; SCM Trainer; Sr. Specialist Supply Chain Logistics Management; Sustainable Supply Chain Specialist; Supply Chain Planner; Manager Supply Chain Management Analytics; Procurement Lead; Manager Store; Procurement Professional; Logistics Specialist; Global Delivery Manager; Sourcing Support Specialist; Category Head; Regional Logistics Incharge; Dispatch Incharge; Digital Transformation Leader for Supply Chain; Field Delivery Executive; Indirect Procurement Officer; DC Manager; Regional Procurement Lead; Yard Supervisor; Principal Buyer; Procurement HR; Fleet Coordinator; Supplier Developer; Vendor Consultant; Transportation Analyst; Manager Hub Operations; Supply Chain Planning System Manager;