Suggested Certification for Materials Planner

Certified in Production and Inventory Management (CPIM)
Recommended Book 1 for Materials Planner

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Interview Questions and Answers

Career paths include senior materials planner, supply chain manager, and procurement manager.

Challenges include dealing with unpredictable demand, managing complex supply chains, and mitigating the impact of disruptions like natural disasters or supplier bankruptcies.

They factor lead time into their planning process to ensure that materials are ordered in time to meet production needs.

A stockout occurs when a company runs out of a particular material or product.

By maintaining adequate inventory levels, accurately forecasting demand, and closely monitoring supply chains.

They use tracking systems provided by carriers or suppliers to monitor the location and status of shipments.

A bill of materials is a list of all the raw materials, components, and subassemblies needed to manufacture a finished product.

They use the BOM to determine the quantities of each material needed for production and to plan material procurement.

Lead time is the time it takes for a supplier to deliver materials after a purchase order has been placed.

They use techniques like Economic Order Quantity (EOQ) to balance the costs of ordering and holding inventory.

A purchase order is a document that authorizes a supplier to deliver goods or services to a company at a specified price and within a specified timeframe.

Materials Planning has been defined as the scientific way of determining the requirements of raw materials, components and other items needed for production.

Materials Planning sheet is used to schedule production starts, purchase needs and purchase dates.

Fishbowl Inventory, NetSuite ERP, EnterpriseIQ, etc.

Main benefits include helping production managers to minimize inventory levels and the associated carrying costs, track material requirements, determine the most economical lot sizes for orders, compute quantities needed as safety stock, allocate production time among various products, and plan for the future.

The time during which items (raw goods and materials) remain in the phase of manufacture, from the beginning of the manufacture to the production of the finished product.

JustinTime (JIT) Manufacturing is a strategy that companies employ to increase efficiency and decrease waste by receiving goods only when they are needed in the production process, thereby reducing inventory costs.

Production Process Cost Optimization and Quality Assurance.

Explain with examples that go with the job description.

NA

3 basic stages in MRP:

Identifying the Quantity Requirements.
Running the MRP Calculations.
Complete the Orders:

Material budgeting refers, in terms of quantity and monetary value of products to be procured in a given time span, to the method of planning material or procurement budget. Material budgeting ensures low inventory preparation risk, maximum purchasing lead time, low shipping costs and improved relationships with suppliers.  

A coproduct is produced along with the main product and carries equal importance as the main product. A byproduct is not a planned product and is produced after carrying out the process.