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

ABC analysis
Ad valorem
Assets
Audit
Binding origin information
Bottleneck
Breach of contract
Bribery
British standards institution
Business case
Call for competition
Cartel
Cash flow
Centralized procurement
Code of conduct
Commodity pricing
Components
Conflict of interests
Consumables
Consumer
Continuous improvements
Core activities
Corporate social responsibility
Corruption
Credit check
Cross functional team
Cultural relativism
Currency
Currency hedging
Cyber attack
Cybercrime
Cyber security
DDP
Demographics
Devolved procurement
Dual sourcing
Due diligence
E-auctions
E-catalogues
E-requisitioning
E-tendering
Economies of scale
Economy
Embezzlement
Equity
ERP
Ethical codes of practice
EXW
Facilitation payment
Fair trade foundation
Financial statements
Fit for purpose
Five rights
Fixed price contract
Fraud
FTSE 100
Functional kit
Futures exchange
GDPR
Gearing
Gifts and hospitality
Hedge
Human rights
Imperfect competition
Import duty
In house
Incoterms
Indices
Insource
Intellectual property
Inter trading
International labour organization
International sourcing
Internet
Intra company trading
Intranet
Investment
Invitation to tender
ISO 9001
Key performance indicators
Lead time
Lease
Letter of credit
Life cycle costs
Liquid
Liquidity
Logistics
Low cost countries
Market share
MEAT
Modern slavery
Modified rebuy
Monopoly
Multiple sourcing
Named destination
Negotiation tendering
Nepotism
New buy
Non conformance
Non disclosure agreement (NDA)
Non governmental organization (NGO)
Offset/ industrial participation
Offshoring
Open tendering
Opportunity for improvements
Original equipment manufacturer
Origin
Pareto principle
Patent
Post tender negotiation
Pre qualification questionnaire
Primary data
Prior information notice
Profitability
Profit margin
Prototype
Public sector
Pure competition
Qualitative
Quantitative
Quota
Raw materials
Request for information
Request for quotation
Restricted tendering
Revenues
Reverse auction
Samples
Scope creep
Scope
Secondary data
SENSEX
Service level agreements
Shareholder
Shareholder equity
Single sourcing
Specification
Staff churn
Stakeholder
Stock markets
Straight rebuy
Strategic sourcing
Sub tier supplier
Supplier appraisal
Supplier pre-qualification
Sustainability
Sustainable development
Tactical / operational sourcing
Tangible
Tariff
The public interest test
Total cost of ownership
Total quality management (TQM)
Trade bloc
Transfer of ownership
TUPE
Wearing parts
Weighted score
Win-win
Workplace fraud
Zeitgeist

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;