“Material Manager based Frequently Asked Questions by expert members with experience as Materials Manager. These questions and answers will help you strengthen your technical skills, prepare for the new job test and quickly revise the concepts”
Interference is a factor in forecasting demand. Interference is made up of all the factors that a forecaster has no control over. Factors that may be considered interference include natural disasters, unusual customer demands, or rare events in the business period.
To determine which numbers to use you must look for the following items. The number of items per order is the quantity(Q). The number of items that can be sold is D. D may be the forecast demand for that particular good. The cost of placing the order is used for S. The final number to find is the carrying cost(C) which is the cost of the item to be held in inventory.
Inventory control is the process of reducing inventory costs while remaining responsive to customer demands. By this definition a store would want to lower its acquisition, carrying ordering and stock-out costs to their lowest possible levels. However a store would need to have enough inventories to meet any needs of its customers.
No, purchase requisition cannot be created with either of these as it is an internal document which is controlled by purchase organization.
The top level of the organizational structure is the client, followed by company code, which represents a unit with its own accounting unit. The next level down is plant where procurement activities take place. A plant will produce goods and makes goods available for the company. The purchasing organization is the legally responsible for procurement transactions. This group is further subdivided into purchasing groups.
Yes, through the use of forecasts inventory levels can be set to meet the demands while keeping levels as low as possible.
Yes, I do. In my current role, I'm the most senior and experienced member of the team and, in all but my job title, I'm already undertaking many elements of a management role. The team is highly dependent on me and most of my time is taken up in supporting and managing the teams members so that they are better able to undertake their own roles. I have extremely good working relationships with my team members and seek to extract the best from them while being aware of their individual limitations. I'm also responsible for training and coaching new team members. I consequently feel that now is definitely the right time for me to take a step up to a management-level position - hence my applying for this role within your organisation.
The GR blocked stock is an option used in the goods receipt process when you are not sure about the quality of the goods received. In such a case, the stock is maintained as GR blocked either from a material viewpoint or exclusively for a purchase order item.
Outline agreement is a long term purchasing agreement with vendor containing terms and conditions regarding the material that is supplied by vendor. Outline agreement are valid up to certain period of time and cover a certain predefined quantity or value.
In planned services at the time of procurement specifications like quantity and price are known in advance. It means nature and scope of service is clear before procurement whereas in unplanned services at the time of procurement specifications like quantity and price are not known in advance. It means nature and scope of service is not clear before procurement. These services can be extended as per the requirement.
The various steps in consignment cycle are:
1. Create consignment info record with proper tax code 2. Create Purchase order with item category K 3. Create output condition record for KONS (output type) 4. Authorize Goods Receipt (GR) 5. Payment is settled through MRKO transaction even if invoice verification is not done
No, release is done only at header level in a combined way for all line items in case of purchase order.
One step transfers of materials can be posted using movement type 301. Other movement types are 303, 351, 641, or 643 in the stock transport order.
The EOQ level is the point at which stocking costs are at their lowest point for a given item.
There are several types of reordering systems, in this module we discussed three. The fixed order quantity uses fixed quantities of goods ordered at various order points to replenish inventory. The fixed order period use fixed times of reorder with various order quantities to replenish inventory to preset levels. The final system, just in time uses a constant flow of goods to match the level of demand.
SAP MM (Material Management) is the module that supports the procurement activities in an organization right from the planning and purchasing to inventory management and quality control. This module has several features and functionalities that are fully integrated with the other important modules like Finance and Control, Sales and Distribution, Production Planning etc. The procurement process consists of a chain of events that take place in order. Starting from the creation of a Purchase Requisition (PR), it moves to the authorization of PR and creation of a Purchase Order (PO). Subsequently, the Goods Receipt is generated on receipt of the goods ordered, Invoice Verification takes place and the Quality Control activities are set in motion. Thereafter, the payment is sent to the vendors for their goods /services.
☛ Tell me about yourself?
☛ What are your biggest strengths?
☛ Why did you leave your last job?
☛ What are your career goals?
☛ Why do you want to work here?
☛ What is your greatest weakness?
☛ What do co-workers say about you?
☛ Are you applying for other jobs?
☛ What do you know about our organization?
☛ What kind of salary are you looking for?
☛ How long would you expect to work for us if hired?
☛ Do you know anyone who works for us?
☛ Why should we hire you?
☛ What Is Your Dream Job?
☛ What are you looking for in a job?
☛ Are you willing to work overtime? Nights? Weekends?
☛ What experience do you have in this field? or Do you have any actual work experience?
☛ Do you consider yourself successful?
☛ What have you done to improve your knowledge in the last year?
☛ Describe your work ethic?
☛ Are you a team player?
☛ Have you ever had to fire anyone? How did you feel about that?
☛ What is your philosophy towards work?
☛ If you had enough money to retire right now, would you?
☛ Have you ever been asked to leave a position?
☛ Tell me about the most fun you have had on the job.
☛ What are the most difficult decisions to make?
☛ Give some examples of teamwork?
☛ Do you prefer to work Independently or on a team?
☛ How would you describe your work style?
☛ Describe a typical work week?
☛ How Will Your Greatest Strength Help You Perform?
☛ Describe a time when your workload was heavy?
☛ How will you achieve your goals?
☛ What can you contribute to the company?
☛ What challenges are you looking for?
☛ Who was your best boss?
☛ Have you ever had difficulty working with a manager?
☛ What were your starting and final levels of compensation?
☛ How do you deal with conflict?
☛ How would you tackle the first 90 days?
☛ Tell me about a time you faced an ethical dilemma?
☛ What did you like or dislike about your previous job?
☛ What was the biggest accomplishment in this position?
☛ What negative thing would your last boss say about you?
☛ Give me an example of a time when you had to think out of the box?
☛ Tell me about your proudest achievement?
☛ Tell me about a project you worked on that required heavy analytical thinking?
☛ Tell me about a time when you failed?
☛ Do you have any questions for me?
☛ Have you ever had to cancel a supplier contract? What happened?
☛ Were you ever faced with a disagreement with a supplier? How did you resolve it?
☛ Describe a time you achieved a significant discount to a supply contract
☛ Have you ever made an unsuccessful purchase? What did you learn?
☛ Tell me about a time you had to lead a team of buyers for a project. Were you successful?
☛ What motivates you to do a good job?
☛ On taking this Materials Manager job, what would be your major contribution?
☛ How long will it take for you to make a significant contribution?
☛ How do you feel about taking no for an answer?
☛ Do you know anyone who works as Materials Manager at this company?
☛ Give me examples of projects tasks you started on your own.
☛ Situation where others disagreed with your ideas.
Orient your answer toward opportunities rather than personal security.
This is your chance to show your depth and dimension as a person.
Make sure to have a specific idea of where you envision yourself in five, ten and even twenty years.
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