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.
Acceptance criteria
Activity schedule
Adjudication
Arbitration
Attitudes
Average rate of return
Baseline
Bathtub curve
Belief
Bill of quantities
Budget
Cash cow
Cash flow
Claims management
Cognitive dissonance
Collectivism
Compensation event
Conditions
Configuration management strategy document
Consortium
Contracting
Cost analysis
Cost consultant
Cost-reimbursable contract
Cultural dimensions
Default
Defect
Design and build
Discounted cash flow
Economies of scale
Emgineering, procurement and construction (EPC) Contract
Engineering, procurement and construction management (EPCM) Contract
Espoused theories
Firm price contracts
Flexed budget
Force majeure
Frame of reference
Function analysis
Gantt chart
Gap analysis
Guanxi
High context culture
Highlight report
Hurdle rate
Individualism
Injunctions
Interim payments
Internal rate of return (IRR)
International chamber of commerce
Jct council
Latent defects
Life cycle
Liquidated (or ascertained) damages
Liquidated damages
Liquidated damages
Low context culture
Lump sum
Management contractor
Maslow’s hierarchy of needs
Measurement contract
Medium-context culture
Milestone payments
Net present value (NPV)
Offset
Operating profit
Opportunity costs
Pain share/gain share mechanism
Parading of the working environment
Payback analysis
Person-organisation fit
PERT
Power distance
Pricing mechanism
Privatisation
Programme
Project
Project initiation document
Public and private sector partnership (PPP or P3)
Punch list items
Quality register
Reliance data
Required rate of return
Return on capital employed (ROCE)
Risk register
Risk tolerance
Schedule of payments
Schedule of rates
Slack
Specific performance
Stage payment
Standard building contract
Statement of need
Statement of work
STEEPLE analysis
STEEPLED analysis
Subcultures
Supplier costs
Tacit
Target cost
Time value of money
Title
Total quality management
Trader contracts
Uncertainty avoidance index
Value
Value analysis
Value engineering
Value for money (VFM)
Values
Variance analysis
Variation
Variation on price clause
Work contractor
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;