Nykaa Procurement Interview Questions and Answers

P2P process refers to the procurement process from purchase requisition to payment.

• The process starts with a purchase requisition from the requester.

• The requisition is then approved by the appropriate authority.

• A purchase order is created and sent to the supplier.

• Goods or services are received and inspected.

• An invoice is received and matched with the purchase order and receipt.

• Payment is made to the supplier.

• The proces...read more

Freight terms refer to the agreed-upon conditions between the buyer and seller regarding the transportation of goods.

• Freight terms determine who is responsible for the cost and risk of transporting goods.

• Common freight terms include FOB (Free on Board), CIF (Cost, Insurance, and Freight), and EXW (Ex Works).

• FOB means the seller is responsible for the goods until they are loaded onto the shipping vessel, while CIF means...read more

Managed supplier relationships, negotiated contracts, and optimized procurement processes.

• Managed relationships with suppliers to ensure timely delivery of goods and services

• Negotiated contracts with vendors to secure favorable terms and pricing

• Optimized procurement processes to improve efficiency and reduce costs

• Implemented cost-saving initiatives such as bulk purchasing or vendor consolidation

My goal in the future is to advance my career in procurement and eventually become a procurement manager.

• Continue to improve my skills and knowledge in procurement through training and certifications

• Gain experience in different aspects of procurement such as strategic sourcing, contract negotiation, and supplier relationship management

• Work towards obtaining a leadership role in procurement within the next 5 years

• Contri...read more