Pratt & Whitney Supply Chain Management Associate Interview Questions and Answers

Key factors of negotiation include preparation, communication, flexibility, and understanding the other party's needs.

• Preparation: Research and gather information about the negotiation topic, the other party, and potential alternatives.

• Communication: Clearly articulate your goals, listen actively, and find common ground to build trust and understanding.

• Flexibility: Be open to compromise and explore creative solutions t...read more

FIFO (First-In, First-Out) and LIFO (Last-In, First-Out) are inventory management methods used to track the flow of goods.

• FIFO: Oldest items are sold or used first.

• LIFO: Newest items are sold or used first.

• FIFO is commonly used in industries with perishable goods.

• LIFO can be advantageous for tax purposes.

• Example: In a grocery store, FIFO ensures that the oldest produce is sold first.

MRP stands for Material Requirements Planning. It is a system used to manage and plan the production and inventory of materials.

• MRP is a software-based system that helps organizations determine what materials are needed, how much is needed, and when it is needed.

• It takes into account factors such as demand, lead times, and inventory levels to create a production schedule and generate purchase orders.

• MRP helps optimize ...read more