World Vision Supply Chain Coordinator Interview Questions, Process, and Tips

Procurement refers to the process of acquiring goods or services from external sources.

• Procurement involves identifying the need for a product or service

• It also involves selecting the right supplier or vendor

• Negotiating the terms and conditions of the purchase

• Placing the order and ensuring timely delivery

• Examples include purchasing raw materials for manufacturing, buying office supplies, or outsourcing IT services

Supply chain is the process of managing the flow of goods and services from the point of origin to the point of consumption.

• It involves the coordination and integration of various activities such as procurement, production, transportation, warehousing, and distribution.

• Effective supply chain management can lead to increased efficiency, reduced costs, and improved customer satisfaction.

• Examples include Amazon's delivery...read more

Logistics is a subset of supply chain management that deals with the physical movement of goods, while supply chain management encompasses the entire process from procurement to delivery.

• Logistics focuses on transportation, warehousing, and distribution of goods.

• Supply chain management includes logistics as well as procurement, planning, and coordination of activities across the entire supply chain.

• Logistics is more ta...read more

Accrual basis of accounting recognizes revenue and expenses when they are earned or incurred, regardless of when payment is received or made.

• Revenue is recognized when it is earned, not when payment is received

• Expenses are recognized when they are incurred, not when payment is made

• This method provides a more accurate picture of a company's financial health

• Example: A company provides services in December but doesn't rec...read more

A vendor can be identified through various methods such as referrals, online research, trade shows, and industry associations.

• Referrals from colleagues or industry contacts

• Online research through search engines and social media

• Attending trade shows and networking events

• Checking industry associations and directories

• Requesting vendor applications and conducting background checks