Azure Power Manager SCM Interview Questions, Process, and Tips for Experienced

Rate contracts and POs are procurement methods used to streamline purchasing processes and ensure consistent pricing.

• Rate contracts establish pre-negotiated prices with suppliers for a set period of time.

• POs are issued to suppliers to initiate a purchase and specify the terms and conditions of the transaction.

• Rate contracts and POs help to reduce procurement costs, improve supplier relationships, and increase efficienc...read more

Risk in agreements refer to potential negative outcomes. Hedging involves taking measures to minimize or eliminate these risks.

• Identify potential risks in the agreement

• Develop a plan to mitigate or eliminate these risks

• Include clauses in the agreement that address potential risks

• Consider insurance or other financial instruments to hedge against risks

• Regularly review and update the agreement to ensure continued risk man

Internal estimated refers to the estimated time or cost required for a project or task, determined by the organization or team responsible for completing it.

• Internal estimated is based on the team's expertise and experience

• It is used to plan and allocate resources for a project

• It can be adjusted based on changes in the project scope or timeline

• Internal estimated is not always accurate and may require revisions

Important points in an agreement

• Clear definition of terms and conditions

• Mutual agreement on responsibilities and obligations

• Details on payment terms and consequences of breach

• Dispute resolution mechanism

• Termination clauses and exit strategy