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 TWO

1. What is stock insurance?
   
   
2. What are the three essential elements of carrying costs?
   
   
3. How would you calculate an organization's stockout cost of finished goods?
   
   
4. Is EOQ still relevant today? Substantiate with your response.
   
   
5. Do you agree that the amount of inventory is one of the information functions?
   
   
6. What are the three essential elements of carrying costs?
   
   
7. How would you define inventory optimization?
   
   
8. Why does a company build anticipation inventory?
   
   
9. How would you leverage hedge inventory in our industry?
   
   
10. What are the factors that influence safety stock?
    
    
11. Define buffer inventory?
    
    
12. Where and why would buffer inventory be used?
    
    
13. Why does a company closely monitor its distribution inventory?
    
    
14. Explain the process of managing stock insurance?
    
    
15. What is the type of insurance that covers transit inventory?
    
    
16. What are the two boundaries of distribution inventory?
    
    
17. Can you list the various criteria for ABC classification?
    
    
18. How would you define inventory auditing?
    
    
19. List out the business conditions that demand periodic inventory auditing.
    
    
20. What are the drawbacks of periodic inventory auditing?
    
    
21. If you were asked to conduct a periodic inventory auditing of a large company, how would you approach it?
    
    
22. How cycle counting overcomes the drawbacks of periodic auditing?
    
    
23. Can you elaborate on the job descriptions of a cycle counter?
    
    
24. What are the three ways to improve the productivity of cycle counters?
    
    
25. How cycle counting improves the accuracy of inventory in an organization?
    
    
26. List out the inventory valuation methods.
    
    
27. How valuation through FIFO impacts the balance sheet and profit & loss statement?
    
    
28. Elaborate FIFO in terms of valuation and physical movement.
    
    
29. Elaborate LIFO in terms of valuation and physical movement.
    
    
30. What is a specific identification method in inventory valuation?
    
    
31. Are you aware of US GAAP recommending LIFO for a product?
    
    
32. What is a weighted average method in inventory valuation?
    
    
33. How does inventory impact the balance sheet and profit and loss statement?
    
    
34. Where is inventory accounted for in the balance sheet?
    
    
35. Is inventory a current asset?
    
    
36. What are all the types of inventories that are covered in the balance sheet?
    
    
37. What are all the different inventory disposal methods you have encountered?
    
    
38. What is inventory aging, and why is it essential for the company’s profitability?
    
    
39. How will you differentiate between raw materials and components for your organization?
    
    
40. “A company’s finished goods is its perspective” Elaborate?
    
    
41. How do you define the inventory turnover ratio?
    
    
42. How do you improve the inventory turnover ratio in an organization?
    
    
43. What are all the types of inventories?
    
    
44. Is it ok to compare one industry's inventory turnover ratio with another? Why or why not?
    
    
45. What does the inventory turnover ratio convey?
    
    
46. In your opinion, what would be the typical inventory turnover ratio of a bakery?
    
47. If a restaurant decides to store food products for only one day, what will be its inventory turnover ratio for the given year?
    
    
48. How will you calculate the total inventory cost of an organization?
    
    
49. Why is inventory accuracy paramount for the success of an organization’s demand planning exercise?
    
    
50. What is the typical inventory flow of an organization?

Would you like to get the answers to all the above Supply Chain Interview questions to better prepare for your Supply Chain Interview?

Deliverables:
1. Answers to all the above 50 questions and
2. Access to LMS for one month

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;