Senior Executive SCM

10+ Senior Executive SCM Interview Questions and Answers

Updated 30 Nov 2022
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Q1. What is incorerm and explain us about it how you are understanding it

Ans.

Incorerm is not a known term in supply chain management.

    Q2. What is supplier rating and how you do this means what is consideration in this

    Ans.

    Supplier rating is the process of evaluating and ranking suppliers based on their performance and capabilities.

    • Supplier rating involves assessing various factors such as quality, delivery, cost, and responsiveness.

    • The ratings are typically based on a numerical or letter scale, with higher scores indicating better performance.

    • Supplier ratings can help organizations identify areas for improvement and make informed decisions about which suppliers to work with.

    • Considerations in s...read more

    Q3. On what basis minimum, maximum and safety stock is defined ?

    Ans.

    Minimum, maximum and safety stock are defined based on demand, lead time, and desired service level.

    • Minimum stock is defined as the lowest level of inventory required to meet demand during lead time.

    • Maximum stock is defined as the highest level of inventory that can be held without incurring excessive costs.

    • Safety stock is defined as the buffer stock held to mitigate the risk of stockouts due to demand variability or lead time uncertainty.

    • The levels of minimum, maximum, and s...read more

    Q4. How you are giving schedules to to supplier?

    Ans.

    Schedules are communicated to suppliers through a combination of electronic communication and regular meetings.

    • Use electronic communication tools such as email and online portals to share schedules with suppliers.

    • Hold regular meetings with suppliers to discuss upcoming schedules and any changes that may need to be made.

    • Ensure that schedules are clear and detailed, including information on quantities, delivery dates, and any special requirements.

    • Work closely with suppliers to ...read more

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    Q5. What is the procedure of import and export

    Ans.

    Import and export procedures involve various steps and documentation requirements.

    • Obtain necessary licenses and permits

    • Arrange for transportation and logistics

    • Prepare and submit required documentation such as invoices, packing lists, and customs declarations

    • Comply with customs regulations and pay applicable duties and taxes

    • Ensure compliance with international trade laws and regulations

    • Examples of documents required for import/export include bill of lading, commercial invoice,...read more

    Q6. 100% sch vs supply and meet the customer requirements

    Ans.

    Supply and meet customer requirements should be prioritized over 100% SCH.

    • Customer satisfaction is key to business success.

    • Focusing solely on SCH may lead to excess inventory and waste.

    • Supply chain should be flexible to adapt to changing customer demands.

    • Examples: Fast fashion industry, Just-in-time manufacturing.

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    Q7. What are parameters while costing a product.?

    Ans.

    Parameters for costing a product include direct and indirect costs, overheads, labor costs, and material costs.

    • Direct costs include raw materials, labor, and manufacturing costs.

    • Indirect costs include rent, utilities, and administrative expenses.

    • Overheads include depreciation, insurance, and taxes.

    • Labor costs include wages, benefits, and training expenses.

    • Material costs include the cost of raw materials and any additional materials needed for production.

    • Other factors to consi...read more

    Q8. How you handle relation of international supplier

    Ans.

    I establish strong communication channels and build trust through regular meetings and visits to ensure timely delivery and quality products.

    • Establish clear communication channels

    • Build trust through regular meetings and visits

    • Ensure timely delivery and quality products

    • Understand cultural differences and adapt accordingly

    • Negotiate favorable terms and conditions

    • Maintain a good relationship even during disputes

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    Q9. Control of excess purchase /inventory control

    Ans.

    Excess purchase/inventory control is crucial for SCM success.

    • Implement a robust inventory management system

    • Analyze demand patterns and forecast accurately

    • Set up a system for regular inventory audits

    • Establish clear communication channels with suppliers

    • Implement a system for returns and exchanges

    • Monitor inventory turnover ratio and adjust ordering accordingly

    Q10. How exactly procurement can be done

    Ans.

    Procurement can be done through a strategic process of identifying needs, selecting suppliers, negotiating contracts, and managing relationships.

    • Identify the goods or services needed

    • Research and select potential suppliers

    • Negotiate terms and conditions with chosen suppliers

    • Create and sign a contract with the supplier

    • Manage the relationship with the supplier to ensure quality and timely delivery

    • Monitor and evaluate supplier performance

    • Continuously improve the procurement proces...read more

    Q11. How you doing audit of supplier

    Ans.

    Supplier audit involves evaluating supplier performance and compliance with established standards.

    • Define audit criteria and standards

    • Conduct on-site visits and inspections

    • Review supplier documentation and records

    • Assess supplier performance and identify areas for improvement

    • Develop corrective action plans and monitor progress

    • Maintain open communication with suppliers

    • Ensure compliance with legal and ethical standards

    • Use technology to streamline audit process

    Q12. What is ITR in inventory ?

    Ans.

    ITR stands for Inventory Turnover Ratio, which measures how quickly a company sells and replaces its inventory.

    • ITR is a financial metric used to evaluate the efficiency of inventory management.

    • It is calculated by dividing the cost of goods sold by the average inventory value.

    • A high ITR indicates that a company is selling its inventory quickly and efficiently.

    • A low ITR may indicate that a company is holding too much inventory or is not selling its products effectively.

    • ITR can ...read more

    Q13. Have you done any cost saving

    Ans.

    Yes, I have implemented several cost-saving measures in my previous roles.

    • Implemented vendor consolidation program resulting in 15% cost reduction

    • Negotiated long-term contracts with suppliers resulting in 10% cost savings

    • Introduced lean manufacturing principles resulting in 20% reduction in waste

    • Implemented inventory management system resulting in 25% reduction in inventory holding costs

    Q14. Best achievement of supply

    Ans.

    My best achievement in supply chain management was implementing a vendor managed inventory system resulting in a 30% reduction in inventory holding costs.

    • Implemented a vendor managed inventory system

    • Achieved a 30% reduction in inventory holding costs

    • Improved inventory accuracy and reduced stockouts

    • Streamlined the procurement process and improved supplier relationships

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