10+ Vestrics Solutions Interview Questions and Answers

Tax invoice is issued for taxable goods/services while Proforma invoice is issued before the actual sale.

• Tax invoice is issued after the sale of taxable goods/services while Proforma invoice is issued before the actual sale.

• Tax invoice includes details like GST, VAT, etc. while Proforma invoice does not include any tax details.

• Tax invoice is a legal document while Proforma invoice is not a legal document.

• Proforma invoice is used to provide an estimate of the cost of goods/ser...read more

Purchase is a transactional activity of buying goods or services while procurement is a strategic process of acquiring goods or services.

• Purchase is a one-time activity while procurement is a continuous process.

• Purchase is focused on getting the best price for a specific item while procurement is focused on building relationships with suppliers and ensuring the overall value of the goods or services.

• Purchase is usually done by lower-level employees while procurement is done b...read more

Online directories, trade shows, and industry associations are great sources for finding new vendors.

• Online directories like ThomasNet and Alibaba can help you find vendors from all over the world.

• Trade shows are a great way to meet vendors in person and see their products firsthand.

• Industry associations like the National Association of Manufacturers can provide a list of reputable vendors in your industry.

• Social media platforms like LinkedIn can also be used to find and conn...read more

Negotiating with vendors requires preparation, communication, and a win-win mindset.

• Research the market and vendor to understand their strengths and weaknesses.

• Set clear objectives and priorities for the negotiation.

• Communicate openly and actively listen to the vendor's perspective.

• Explore creative solutions that benefit both parties.

• Be willing to walk away if the terms are not favorable.

• Follow up with a written agreement that outlines the terms and expectations.

Procurement challenges include supplier management, cost control, and supply chain disruptions.

• Supplier management: finding reliable suppliers, negotiating contracts, and ensuring compliance

• Cost control: balancing quality and price, managing budgets, and avoiding overpaying

• Supply chain disruptions: unexpected events like natural disasters, political instability, and pandemics can disrupt the supply chain

• Other challenges: managing inventory, ensuring sustainability, and keepin...read more

ABC analysis is a method of categorizing items based on their value or importance.

• ABC stands for 'Always Better Control'

• It is used in inventory management to prioritize items based on their importance

• Category A items are high value and high priority, while category C items are low value and low priority

• It helps in efficient allocation of resources and inventory management

• Example: In a retail store, category A items could be high-end electronics, category B items could be clot...read more

Vendor development is the process of identifying and building relationships with new suppliers to meet business needs.

• Identifying potential vendors through research and networking

• Evaluating vendor capabilities and assessing their suitability for the business

• Negotiating contracts and pricing with vendors

• Collaborating with vendors to improve product quality and delivery times

• Monitoring vendor performance and addressing any issues that arise

• Developing long-term relationships wit...read more

A Purchase Order is a commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.

• It is a legal document that confirms the purchase of goods or services.

• It includes details such as product or service description, quantity, price, delivery date, and payment terms.

• It serves as a contract between the buyer and the seller.

• It helps in tracking the delivery of goods or services and ensures timely payment.

• It is used in ...read more

RFQ stands for Request for Quotation. It is a document used in procurement to request quotes from suppliers for goods or services.

• RFQ is used to gather information about pricing, availability, and delivery times from potential suppliers.

• It typically includes a description of the goods or services required, quantities, and any technical specifications.

• RFQs are often used in competitive bidding processes to help organizations find the best value for their money.

• Examples of indu...read more

Print a matrix in spiral order using clean and efficient code

• Create four variables to keep track of the boundaries of the matrix

• Use a while loop to iterate through the matrix in a spiral order

• Print each element as you iterate through the matrix

• Update the boundaries of the matrix after each iteration

MIS stands for Management Information System, which is a computer-based system that provides information for decision-making.

• MIS is used to collect, process, store, and disseminate data in an organization.

• It helps in decision-making by providing timely and accurate information to managers.

• MIS can be used in various functions such as finance, marketing, operations, and human resources.

• Examples of MIS include ERP systems, CRM systems, and business intelligence tools.

Incoterms are international commercial terms that define the responsibilities of buyers and sellers in international trade.

• There are 11 Incoterms, each with a unique set of rules and obligations.

• They cover everything from the delivery of goods to the payment of taxes and duties.

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

Black-box testing is a method of testing software without knowing its internal structure, while white-box testing is the opposite.

• Black-box testing focuses on the functionality of the software

• White-box testing focuses on the internal structure of the software

• Black-box testing is also known as functional testing

• White-box testing is also known as structural testing

• Examples of black-box testing include user acceptance testing and exploratory testing

• Examples of white-box testing ...read more

Test cases for Facebook tag feature

• Verify that the tagged person receives a notification

• Check if the tag appears on the tagged person's timeline

• Ensure that the tag is clickable and redirects to the tagged person's profile

• Test if the tag is visible to the tagged person's friends

• Verify that the tag is not visible to people who are not friends with the tagged person

• Check if the tag is removable by the person who posted it

• Ensure that the tag is not removable by anyone else except...read more

Verification ensures that the product is built according to the requirements, while validation ensures that the product meets the customer's needs.

• Verification checks if the product is built correctly, while validation checks if the right product is built.

• Verification is a process of evaluating documents, design, code, and program, while validation is a process of evaluating the final product.

• Verification is done before validation.

• Examples of verification include code reviews...read more