Flash Electronics Purchase Manager Interview Questions and Answers

Landing price can be calculated by adding the FOB price with freight, insurance, customs duty, and other charges.

• FOB price is the cost of goods and transportation to the port of shipment

• Freight cost is the cost of shipping the goods from the port of shipment to the port of destination

• Insurance cost is the cost of insuring the goods during transit

• Customs duty is the tax imposed by the importing country on the imported g...read more

In case of a global shortage of an exclusive semiconductor, I would take the following actions:

• Identify alternative suppliers or manufacturers who can provide the required semiconductor

• Negotiate with existing suppliers to increase the supply or prioritize our orders

• Explore the possibility of redesigning the product to use a different semiconductor

• Collaborate with other companies or industry associations to find a colle...read more

Procurement is the process of acquiring goods or services from external sources.

• Identifying the need for goods or services

• Selecting suppliers

• Negotiating contracts

• Placing orders

• Tracking delivery and payment

• Managing supplier relationships

• Ensuring quality and compliance

• Optimizing costs

• Examples: purchasing raw materials for manufacturing, hiring a contractor for construction work, buying office supplies for a company

P to P cycle in purchasing refers to Procure to Pay cycle which involves the entire process of purchasing goods or services.

• The cycle starts with identifying the need for a product or service.

• Then, a purchase requisition is created and sent for approval.

• Once approved, a purchase order is generated and sent to the supplier.

• The supplier delivers the goods or services and an invoice is received.

• The invoice is verified and...read more

DAP stands for Delivered at Place. It is an international trade term used in shipping and logistics.

• DAP is a type of Incoterm, which is a set of standardized trade terms used in international transactions.

• It means that the seller is responsible for delivering the goods to a specified location, usually a port or warehouse.

• The buyer is responsible for all costs and risks associated with the goods from the point of delive...read more