Lumax Industries Purchase Executive Interview Questions and Answers

Handling critical situations with suppliers requires proactive communication and contingency planning.

• Establish clear communication channels with suppliers

• Develop contingency plans for potential supply chain disruptions

• Regularly review and update supplier contracts

• Maintain a diverse supplier base to mitigate risk

• Monitor supplier performance and address issues promptly

• Collaborate with cross-functional teams to identify

There are three types of purchase orders: Standard, Blanket, and Contract.

• Standard Purchase Order: Used for one-time purchases of goods or services.

• Blanket Purchase Order: Used for recurring purchases of goods or services over a period of time.

• Contract Purchase Order: Used for long-term purchases of goods or services with a specific supplier.

• Each type of purchase order has its own unique characteristics and is used in ...read more

Open PO and Close PO are different in terms of their status and completion.

• Open PO refers to a purchase order that is still active and has not been fully processed or completed.

• Close PO, on the other hand, refers to a purchase order that has been fully processed and completed.

• Open POs may still require actions such as receiving goods or services, invoicing, or payment.

• Close POs indicate that all necessary actions have ...read more

Direct suppliers provide goods or services directly to the company, while indirect suppliers provide goods or services to the direct suppliers.

• Direct suppliers are involved in the production process, while indirect suppliers are not.

• Direct suppliers are usually larger and have a closer relationship with the company.

• Examples of direct suppliers include raw material providers, while indirect suppliers include packaging s...read more

Our monthly turnover is $500,000.

• Our monthly turnover is consistent and has been steadily increasing.

• We have a diverse range of clients contributing to our turnover.

• Our turnover is closely monitored and analyzed to identify areas for improvement.

• Last month, our turnover was $480,000 but we expect it to increase next month due to new contracts.

Handling critical situations with suppliers requires proactive communication and contingency planning.

• Establish clear communication channels with suppliers

• Develop contingency plans for potential supply chain disruptions

• Regularly review and update supplier contracts

• Maintain a diverse supplier base to mitigate risk

• Monitor supplier performance and address issues promptly

• Collaborate with cross-functional teams to identify

There are three types of purchase orders: Standard, Blanket, and Contract.

• Standard Purchase Order: Used for one-time purchases of goods or services.

• Blanket Purchase Order: Used for recurring purchases of goods or services over a period of time.

• Contract Purchase Order: Used for long-term purchases of goods or services with a specific supplier.

• Each type of purchase order has its own unique characteristics and is used in ...read more

Open PO and Close PO are different in terms of their status and completion.

• Open PO refers to a purchase order that is still active and has not been fully processed or completed.

• Close PO, on the other hand, refers to a purchase order that has been fully processed and completed.

• Open POs may still require actions such as receiving goods or services, invoicing, or payment.

• Close POs indicate that all necessary actions have ...read more

Direct suppliers provide goods or services directly to the company, while indirect suppliers provide goods or services to the direct suppliers.

• Direct suppliers are involved in the production process, while indirect suppliers are not.

• Direct suppliers are usually larger and have a closer relationship with the company.

• Examples of direct suppliers include raw material providers, while indirect suppliers include packaging s...read more