SmartSoC Solutions SAP Fico Consultant Interview Questions and Answers

Material management involves planning, organizing, and controlling the flow of materials from procurement to consumption.

• Involves procurement, storage, and distribution of materials

• Ensures availability of materials for production or service delivery

• Optimizes inventory levels to minimize costs and meet demand

• Utilizes software like SAP MM for efficient management

Supply chain management involves the coordination and optimization of processes involved in sourcing, production, and distribution of goods and services.

• Involves planning, sourcing, making, delivering, and returning products

• Focuses on efficiency, cost reduction, and customer satisfaction

• Utilizes technology like ERP systems for real-time tracking and optimization

• Examples include inventory management, demand forecasting,

Types of supply chain management include strategic, operational, and tactical.

• Strategic supply chain management focuses on long-term planning and decision-making.

• Operational supply chain management involves day-to-day processes and activities.

• Tactical supply chain management deals with short-term adjustments and improvements.

• Examples: Just-in-time inventory management, vendor-managed inventory, cross-docking.