Aspire Electonics Corporation Procurement Executive Interview Questions and Answers

Q1. What is Procurement cycle?
Ans. 
The procurement cycle is the process of acquiring goods or services from external sources, including identifying needs, sourcing suppliers, negotiating contracts, and managing supplier relationships.
• Identification of needs and requirements

• Sourcing potential suppliers

• Negotiating contracts and terms

• Ordering and receiving goods or services

• Managing supplier relationships and performance
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Q1. Tell me your self intro
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Q2. Why do you choose accenture
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Q1. Can you provide an introduction about yourself and your professional profile?
Ans. 
Experienced procurement executive with a strong background in strategic sourcing and supplier management across various industries.
• Over 10 years of experience in procurement and supply chain management.

• Successfully led a team to reduce procurement costs by 15% through strategic sourcing initiatives.

• Expert in negotiating contracts and building long-term supplier relationships.

• Implemented a new procurement software syste...read more
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Q1. What is a journal entry? entry for cash deposited into bank
Ans. 
A journal entry is a record of a financial transaction in a company's accounting system.
• A journal entry for cash deposited into a bank would involve debiting the bank account and crediting the cash account.

• The debit entry would increase the bank account balance, while the credit entry would decrease the cash account balance.

• The journal entry would typically include the date of the transaction, the amount deposited, and...read more
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Q1. How do you check the supplier quality
Ans. 
Supplier quality can be checked through supplier audits, performance evaluations, quality control measures, and feedback from stakeholders.
• Conduct regular supplier audits to assess their processes and quality standards

• Implement performance evaluations to track supplier performance over time

• Utilize quality control measures such as inspections and testing of received goods

• Seek feedback from internal stakeholders and end-...read more
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Logical reasoning, GAAP and English

Q1. Taxation and business finance questions mostly
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Q1. Personal experiences and preferences
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Q1. Why did you leave ur past job? How many experience do you have?
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Q2. What is the expected salary
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