Tata Motors Finance Interview Questions and Answers

I follow a systematic process for purchase that includes identifying needs, researching suppliers, evaluating options, negotiating terms, and placing orders.

• Identify the need for purchase

• Research potential suppliers and their products/services

• Evaluate options based on quality, price, and other factors

• Negotiate terms and conditions with selected supplier

• Place order and ensure timely delivery

• Maintain records of purchases and supplier performance

New vendor registration process involves submission of necessary documents and evaluation of vendor's capabilities.

• Vendor submits registration form and required documents

• Purchase department evaluates vendor's capabilities and verifies documents

• Vendor may be required to undergo a site visit or audit

• Upon successful evaluation, vendor is registered and added to the approved vendor list

As a Purchase Manager, I purchase a wide range of items including raw materials, equipment, office supplies, and services.

• Raw materials for production

• Equipment for manufacturing and maintenance

• Office supplies for daily operations

• Services such as transportation and logistics

• Negotiating contracts and pricing

• Maintaining relationships with suppliers

• Ensuring timely delivery of goods

• Managing inventory levels

As a Purchase Manager, I am dealing with a wide range of items depending on the company's needs.

• The number of items I deal with varies depending on the company's size and industry.

• I am responsible for sourcing and procuring items such as raw materials, equipment, office supplies, and services.

• I also manage inventory levels and negotiate with suppliers to ensure the best prices and quality.

• Examples of items I have dealt with in the past include steel, chemicals, IT equipment, ...read more

PO terms refer to the conditions and requirements outlined in a purchase order.

• PO terms specify the goods or services being purchased

• They also outline the price, payment terms, delivery date, and other relevant details

• PO terms are legally binding and must be agreed upon by both the buyer and seller

• Any changes to the PO terms must be approved by both parties in writing

Materials can be classified based on their nature, usage, and properties.

• Classification based on nature: organic, inorganic, synthetic, natural

• Classification based on usage: raw materials, finished goods, consumables, spares

• Classification based on properties: physical, chemical, mechanical

• Examples: metals, plastics, chemicals, fabrics, electronic components

Specifications of material refer to the detailed requirements and characteristics of the material needed for a particular purpose.

• Specifications include physical properties such as size, weight, and color.

• Chemical properties such as composition and purity are also important.

• Other specifications may include durability, performance, and environmental impact.

• Examples of materials with specific specifications include medical-grade plastics and aerospace-grade aluminum.

Composition of metal refers to the elements that make up a particular metal.

• Metals are typically composed of one or more metallic elements, such as iron, copper, or gold.

• The composition of a metal can affect its properties, such as strength, ductility, and conductivity.

• Alloys are composed of two or more metals, or a metal and a non-metal, and can have unique properties.

• The composition of a metal can be determined through various analytical techniques, such as X-ray fluorescen...read more