May 03, 2020

Supply chain management interview questions and answers

Question 1. 
What is the definition of supply chain management?
SCM is that the oversight of information, finances, materials, and as they move during a process from supplier to manufacturer to wholesaler to retailer to consumer.
Question 2. 
Can you explain what are the key elements of supply chain management?
Supply chain management also covers coordination and collaboration with channel partners like suppliers, customers, distributors, and repair providers.
Communication, Demand Management, Integration, Collaboration.
Question 3. 
What is the most goal of supply chain management?
Goal 1: Achieve Efficient Fulfillment. On the foremost basic level, the aim of supply chain management is to form inventory readily available in customer-facing positions to satisfy demand. … Such steps will help the organization reduce waste, drive out costs, and achieve efficiencies within the supply chain.

Question 4. 
What is Logistics?
Logistics is used more broadly to ask the tactic of coordinating and moving resources –materials, , inventory, people, and equipment – from one location to storage at the required destination. The term logistics originated within the military, pertaining to the movement of kit and supplies to troops within the field.

Question 5. 
What is the Logistics Components?
The management of logistics can involve some or all of the subsequent business functions, including:

Inbound transportation
Outbound transportation
Fleet management
Materials handling
Order fulfillment
Inventory management
Demand planning

Question 6. 
Why Logistics is Important
Although many small businesses specialize in the design and production of their products and services to best meet customer needs, if those products cannot reach customers, the business will fail. That’s the major role that logistics plays. The more efficiently raw materials are often purchased, transported, and stored until used, the more profitable the business is often. Coordinating resources to permit timely delivery and use of materials can make or break a corporation.

Question 7. 
What is the difference between Logistics vs. Supply Chain Management
Logistics and provide chain management are terms that are often used interchangeably, but they really ask two aspects of the method.
Logistics refers to what happens within one company, including the delivery and acquisition of raw materials, shipment, packaging, and transportation of products to distributors, as an example. While supply chain management refers to a bigger network of out of doors organizations that employment together to deliver products to customers, including vendors, transportation providers, warehouse provider, call centers...

Question 8. 
What is affreightment?
Affreightment may be a legal term utilized in shipping. … The charterer agrees to pay a specified price, called freight, for the carriage of the products or the utilization of the ship. A ship could also be let, sort of a house, to an individual who takes possession and control of it for a specified term.

Question 9.
What are the activities performed at the operational level in logistics?
The major activities can be divided into three parts – pick-up from supplier, storage or warehousing & distribution to end customer as per demand. The sub-activities include in the whole operations are;

• pick-up of the goods from a supplier
• packaging
• transportation via air, sea, and road
• customs clearance
• delivery of the goods
• warehousing
• Quality Control/ Quality Assurance
• Sorting of the goods
• inventory management
• stock replenishment
• distribution of the stores
• return shipment handling

Question 10. 
Can you explain the procedure to the pay cycle?
Procure to pay is that the method of obtaining and managing the raw materials needed for manufacturing a product or providing a service. It involves the transactional flow of knowledge that's sent to a supplier also because the data that surrounds the fulfillment of the particular order and payment for the product or service. According to the Chartered Institute of buying and provide , procure to pay should be a seamless process from point of order to payment. Technology can assist in this process. The goal of a procure to pay software is to automate processes by introducing efficiency controls, to enforce buying controls, the software might cross-reference purchasing budgets to form sure compliance with pre-defined buying limits.

A sophisticated procure to pay system is capable of extracting invoice and payment data from a ledger, enterprise resource planning or customer relationship management systems while also accepting transaction data from banks, vendors, shipping and other outside sources and reconciling complex and multiple supplier statements to payments and good received.

Question 11. 
Can you explain what is an SKU in the supply chain?

In the field of inventory management, a stock-keeping unit or SKU refers to a specific item stored in a specific location. The SKU is meant because of the most disaggregated level when handling inventory. All units stored within the same SKU are alleged to be indistinguishable.

Question 12. 
What are the compliance labels?
The label for a product that complies with the standards set for the industry, or within the case of an import, which meets the label specifications set by the applicable government agencies of the importing and exporting countries.

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