Fhyzics brought out this series of articles on supply chain terminologies to help the supply chain aspirants better prepare for supply chain and procurement job interviews. Each article will contain a set of terminologies in one of the supply chain or procurement 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 Supply Chain and Procurement Terminologies

Artificial intelligence (AI)
Assets
Audit
Batch quantity
Benchmark
Bid
Brand
Budget
Buffer stock
Capital assest
Carriage deals
Centralized structure
Charity
Cloud computing
Cooperative
Code of ethics
Collaborative style
Competitive dialogue
Competitive dialogue with negotiation
Compliance
Conflict of interest
Corporate social responsibility (CSR)
Cost aoidance
Cost impact
Cost of sales
Counter offer
Cross functional activity
Cycle time
Depreciation
Devolved structure
Direct procurement
Direct purchase
Distributive style
Dividend
Downstream
E-auction
E-catalogue
E-negotiation
E-ordering
E-payment
E-requisitioning
E-RFQ
E-sourcing
E-specification
Economies of scale
Electronic data interchange (EDI)Enforceable in law
Ethical values
Ethics
Exchange rate
Expediting
Expenditure
Expenses
Fleet
Framework agreement
Gross profit
Hybrid structure
In-house
Incoterms
Indirect procurement
Individual with capacity
Innovate
Intangible
Intranet
Inventory
Invitation to tender
Inventory
Invitation to tender (ITT)
ISO 9000
Just in time (JIT)
Kanban
Key performance indicator
Lead times
Legacies
Mark up
Market agreement
Market share
Maslow’s hierarchy of needs
Material requirement planning (MRP)
Minimum order quantity (MOQ)
Monopoly
Multi nationals
Net profit
On cost
On time in full (OTIF)
Open tender procedure
Operations expenditure
Original equipment manufacturer
Output
Post contract award stage
Pre contact award stage
Pre qualification questionnaires
Primary sector
Primary sector products
Privatized
Procedure
Procurement policy note (PPN)
Production organization
Prototype
Public accountability
Public sector
Qualitative
Quantitative
Quotation
Remuneration
Request for information
Request for quotation
Restricted tender procedure
Return on investment
Reverse auction
Risk impact
Sales revenue
Secondary sector
Secondary sector products
Sector
Service level agreement (SLA)
Shareholder
Specification
Spot buying
Stakeholder
Statement of comprehensive income
Step change
Strategic
Strategy
Sundries
Supplier relationship management
Supply chain
Supply chain management
Sustainability
Sustainability policy
Tangible
Tertiary sector
Tertiary sector services
Third sector
Threshold
Total cost of acquisition
Total cost of ownership
Total life cost
Trustee
Turnover
Unconditional acceptance
Union
Upstream
Value engineering
Variance
Waiting time
Whistle blowing

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;