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
Average outgoing quality (AOQ)
Average outgoing quality limit (AOQL)
Average payment period
Average total cost
Average variable cost
AVL
Avoidable cost
Avoidable delay
Award audits
Awareness efficiency
AWB
Buying capacity
Buying down
By-product
Cybernetics
Cybernetic system
Cybersecurity
Cycle
Cycle counter
Cycle counting
Cycle inventory
Cycle reduction stock
Cycle service level
Cycle stock
Cycle time
Cyclical component
Cyclical demand
Dwell
Dynamic buffers
Dynamic congruence
Dynamic demand
Dynamic fulfillment
Dynamic inventory management
Dynamic Kanban
Dynamic lot sizing
Dynamic programming
Dynamic routing
Extrapolation
Extrinsic forecasting method
Funds flow statement
Funnel experiment
Future order
Future reality tree (FRT)
Futures
Future value
Future worth
Fuzzy logic
Item master file
Item master record
Item number
Item rationalization
Item record
LTT
Lumpy Demand
Multivariate Control Chart
Mura
Muri
Mutually Exclusive Project
Mystery Shoppers
Overstated Master Production Schedule
Overstock
Overtime
Owner’s Equity
Push-Back Rack
Push-Pull Boundary
Push System
Push Technology
Put-Away
Put-Away Time
Put-To-Light
Pyramid Forecasting
Run Size
Run Standards
Run Time
Rush Order
System Nervousness
Systems Analysis
Systems Audit
Systems Concept
Systems Network
Systems Rollup
Systems Thinking
Systems View
Two-Bin Inventory System
Two-Card Kanban System
Two-Level Master Schedule
Type I Error
Type II Error
Voucher
WYSIWYG
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;
