Question 1

What is a supply chain?

Accepted Answer

A supply chain refers to the network of organisations, individuals, technology and processes involved in creating a product or service and its final delivery to the end consumer.

Question 2

What is supply chain management?

Accepted Answer

Supply chain management involves the planning and managing activities involved in the flow of goods and services from the raw material stage to the finished products.

Question 3

What is logistics?

Accepted Answer

In commerce, logistics refers to the planning and execution of efficient storage and transport of goods from their source to the final destination.

Question 4

What are the five supply chain management processes?

Accepted Answer

The five supply chain management processes or components are - plan, source, make/execute, deliver and return.

Question 5

What are the six types of supply chain management?

Accepted Answer

The six types of supply chain models are - the fast model, the continuous model, the agile model, the efficient model, the flexible model and the custom-configured model.

Question 6

Why is supply chain management important?

Accepted Answer

Supply chain management is important to businesses for several reasons, including increased visibility into supply chains, reduced costs, better customer service and improved finances.

Question 7

What are the challenges of SCM?

Accepted Answer

Some of the biggest challenges companies face in SCM include quality customer service, cost of raw materials, labour and energy, supplier relationship, risk management, unforeseen delays, incompetent personnel and volatile markets.

Question 8

What skills do I need to build a supply chain career?

Accepted Answer

The top skills to get hired for SCM jobs are knowledge of IT and automation, project management, awareness of market trends and consumer behaviour, negotiation abilities and communication skills.

Question 9

Is there a typical career path in supply chain management?

Accepted Answer

There is no defined career path in SCM since your employment opportunities will depend on various factors like experience, skills, industries, organisations and the type of employers.

Question 10

What kind of jobs are available for supply chain management graduates?

Accepted Answer

Some common job roles for SCM graduates include Commodity Specialist, Business Analyst, Distribution Manager, Operations Manager, Project Manager, Plant Manager, Purchasing Manager and Sourcing Specialist, to name a few.

Question 11

Is an internship important for a career in SCM?

Accepted Answer

Yes, an internship is extremely valuable if you’re aspiring to build a career in supply chain management. Internships give you hands-on experience and industry exposure in SCM, logistics, transportation and other relevant skills.

Question 12

Is supply chain management a good career choice in India?

Accepted Answer

Yes, supply chain management is a good career choice in India. The demand for supply chain management professionals is high as organisations across various sectors realise the pressing need to strengthen the supply chain infrastructure for improved efficiency.

Question 13

What do SCM professionals do?

Accepted Answer

The responsibilities of supply chain management professionals depend on the specific job role. For example, production/operations professionals carry out product/service design, facility layout, location planning, capacity planning, demand forecasting and so on. On the contrary, procurement/purchasing professionals identify and analyse sources of materials, select and evaluate suppliers, negotiate contracts, place orders and acquire materials.

Question 14

What are the core areas in supply chain management?

Accepted Answer

Purchasing/procurement, production/operations and transportation/logistics are the core areas in SCM.

Question 15

What is the average starting salary for SCM professionals?

Accepted Answer

While the average starting salary of an SCM professional in India is INR 484,333, entry-level positions in the United States pay around USD 55,096 on average.

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