Anand Diagnostic Laboratory Interview Questions and Answers

P2P cycle is the process of procuring goods or services from a supplier, while catalogue is a list of available items for purchase.

• P2P cycle involves requisition, purchase order, receipt of goods or services, and payment to supplier.

• Catalogue is a list of items available for purchase, often with descriptions and prices.

• Catalogues can be physical or digital, and can be used to streamline the procurement process.

• Catalogues can also be customized to meet the specific needs of a ...read more

Procurement process involves identifying needs, sourcing suppliers, negotiating contracts, and managing supplier relationships.

• Identifying needs and requirements

• Sourcing potential suppliers

• Negotiating terms and contracts

• Managing supplier relationships

• Ensuring timely delivery and quality of goods/services

Procurement involves acquiring goods and services from external sources to support an organization's operations.

• Procurement is the process of finding, acquiring, and buying goods, services, or works from an external source.

• It involves identifying the needs of the organization, selecting suppliers, negotiating contracts, and managing supplier relationships.

• Procurement aims to ensure that the organization receives the best value for money, while maintaining quality and efficien...read more

Reversal entries are accounting entries made to correct errors in previously recorded transactions.

• Reversal entries are used to reverse the effects of incorrect entries without deleting the original entry.

• They are typically made in the same accounting period as the original entry.

• Reversal entries are made to ensure accurate financial reporting and maintain the integrity of the accounting records.

Supplier enablement is the process of onboarding and empowering suppliers to efficiently and effectively conduct business with a company.

• Supplier enablement involves providing suppliers with the necessary tools, resources, and information to streamline the procurement process.

• This can include implementing electronic procurement systems, providing training and support, and establishing clear communication channels.

• By enabling suppliers, companies can improve supplier performan...read more

Document posting is the process of uploading or entering documents into a system for record-keeping or sharing purposes.

• Document posting involves uploading or entering documents into a system.

• It is commonly used in accounting and procurement to record transactions and invoices.

• Document posting helps in maintaining accurate records and facilitating easy access to information.

A purchase requisition is a formal request to procure goods or services.

• It is a document used to request the purchase of goods or services

• It includes details such as quantity, description, and budget allocation

• It is typically approved by a manager or supervisor before the purchase is made