Hero Cycles Purchase Assistant Interview Questions and Answers

Q1. Tell me about cost settlement
Ans. 
Cost settlement is the process of finalizing and closing out financial transactions related to purchases.
• Cost settlement involves reconciling invoices, payments, and any discrepancies in pricing or quantities.

• It ensures that all costs associated with a purchase are accurately accounted for and paid.

• Examples include verifying that the correct prices were charged for items received and resolving any billing errors.

• Cost s...read more
Answered by AI
Add your answer
Q2. Tell me about yourself
Ans. 
Experienced Purchase Manager with a strong background in procurement and supply chain management.
• Over 8 years of experience in purchasing and procurement

• Skilled in negotiating contracts and managing vendor relationships

• Proven track record of cost savings through strategic sourcing

• Proficient in inventory management and supply chain optimization

• Strong analytical and problem-solving skills

• Excellent communication and inter
Answered by AI
Add your answer

Q1. Development process
Add your answer
Q2. Major cost driver in wiring harness
Ans. 
The major cost driver in wiring harness is the cost of raw materials, labor, and complexity of the design.
• Cost of raw materials such as copper wires and connectors

• Labor costs for assembly and installation

• Complexity of the design impacting production time and skill level required

• Volume of production affecting economies of scale
Answered by AI
Add your answer
Q3. Spare part costing
Add your answer

Q1. Purchase related questions are there
Add your answer
Q2. What is sourcing and steps
Ans. 
Sourcing is the process of finding and selecting suppliers to obtain goods and services.
• Identify the need for goods or services

• Research potential suppliers

• Evaluate suppliers based on criteria such as quality, price, and delivery time

• Negotiate contracts and terms with selected suppliers

• Place orders and manage supplier relationships

• Monitor supplier performance and make improvements as necessary
Answered by AI
Add your answer

Any normal aptitude test there

Q1. Salary discussion and negotiation
Add your answer

Q1. Company profile
Add your answer
Q2. Salary fixed
Add your answer

Q1. Company timing tvs
Add your answer
Q2. TVS about company
Add your answer

Iasking group about our company

Q1. Normal basis quality and drawing related questions
Add your answer

Q1. About material planning, inventory norms, inventory control, supply chain management, vendor management.
Add your answer
Q2. What is material planning? How it’s done?
Ans. 
Material planning is the process of determining the materials needed for production and ensuring they are available at the right time.
• Forecasting demand based on historical data and market trends

• Creating a bill of materials (BOM) listing all components needed for production

• Determining order quantities and lead times for materials

• Monitoring inventory levels and reordering materials as needed

• Collaborating with suppliers
Answered by AI
Add your answer
Q3. What is inventory control?How effectively you control inventory?
Ans. 
Inventory control is the process of managing and overseeing the ordering, storage, and usage of a company's inventory.
• Implementing inventory management software to track stock levels and reorder points

• Regularly conducting physical inventory counts to ensure accuracy

• Analyzing sales data to forecast demand and adjust inventory levels accordingly

• Establishing efficient storage and organization systems to minimize excess in
Answered by AI
Add your answer
Q4. What is SCM? And How you manage it ?
Ans. 
SCM stands for Supply Chain Management. It involves the planning, coordination, and control of the flow of goods and services from point of origin to point of consumption.
• SCM involves managing the flow of goods, information, and finances across the supply chain.

• It includes activities such as procurement, production, inventory management, logistics, and distribution.

• Effective SCM helps in reducing costs, improving effic...read more
Answered by AI
Add your answer

Q1. Related to work ethics and professional values
Add your answer

Q1. About my experience
Add your answer

Q1. About the company
Add your answer