KNR Constructions Purchase Officer 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
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Q2. Tell me about yourself
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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
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It's very important roll from purchase department complete the assignments in time .

You have to prove yourself

Hypothetical situation to select the perfect prodsuct

Q1. Is quality preferreed over price? how do you entice vendors to reduce price?
Ans. 
Quality is preferred over price in most cases. Vendors can be enticed to reduce price through negotiation, long-term partnerships, and bulk orders.
• Emphasize the importance of quality in the products or services being purchased

• Negotiate with vendors to find a win-win solution that includes a balance of quality and price

• Offer long-term partnerships to vendors in exchange for reduced prices

• Place bulk orders to leverage vo...read more
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Q2. How to you procure below budget?
Ans. 
To procure below budget, negotiate with suppliers, explore alternative options, and consolidate purchases.
• Negotiate with suppliers for better prices

• Explore alternative suppliers or options

• Consolidate purchases to get bulk discounts

• Monitor market trends for price fluctuations

• Set clear budget goals and stick to them
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Q3. How too do something unethical weithin the law
Ans. 
One should never engage in unethical behavior, even if it is technically legal.
• Always prioritize ethical conduct over legal loopholes

• Consult with legal and ethical experts if unsure about a decision

• Consider the long-term consequences of unethical actions

• Seek alternative solutions that align with ethical standards
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Q1. How you control the inventory and resources for optimum result
Ans. 
I control inventory and resources by implementing efficient inventory management systems, conducting regular audits, optimizing reorder points, and utilizing technology.
• Implementing efficient inventory management systems to track and manage inventory levels

• Conducting regular audits to identify any discrepancies or inefficiencies in inventory management

• Optimizing reorder points to ensure timely replenishment of inventor...read more
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Q1. Why you want to change current employer
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Q1. What is ABC Analysis
Ans. 
ABC Analysis is a method used in inventory management to categorize items based on their importance and prioritize them accordingly.
• ABC Analysis categorizes items into three groups: A, B, and C.

• Group A items are the most important and high-value items that require close monitoring and frequent replenishment.

• Group B items are moderately important and have a moderate value.

• Group C items are the least important and low-va...read more
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Q1. Normal basis quality and drawing related questions
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