Larsen & Toubro Limited Procurement Engineer Interview Questions and Answers

Full P2P refers to the entire procurement process from requisition to payment.

• Full P2P involves the entire procurement process including requisition, sourcing, purchase order creation, invoice processing, and payment.

• It starts with a requisition from the user and ends with payment to the supplier.

• It includes supplier selection, negotiation, and contract management.

• It also involves receiving and inspection of goods and ...read more

The best contribution is one that aligns with the company's goals and values while also improving efficiency and reducing costs.

• A contribution that aligns with the company's goals and values

• Improving efficiency in procurement processes

• Reducing costs through strategic sourcing and negotiation

• Implementing sustainable procurement practices

• Developing strong relationships with suppliers

• Introducing innovative procurement sol...read more

I achieved a saving of $500,000 by negotiating better contracts with suppliers.

• Negotiated better terms and pricing with key suppliers

• Implemented a vendor management system to track spending and identify cost-saving opportunities

• Consolidated purchases to leverage volume discounts

• Reduced waste and excess inventory through improved forecasting and demand planning

• Collaborated with cross-functional teams to identify areas f

To make a contract, identify parties, define terms, negotiate, draft agreement, review, sign, and enforce.

• Identify parties involved in the contract

• Define terms and conditions clearly

• Negotiate to reach a mutually beneficial agreement

• Draft the contract document with all details included

• Review the contract for accuracy and completeness

• Sign the contract with all parties involved

• Enforce the terms of the contract