Riddhi Steel and Tube Purchase Executive Interview Questions and Answers

Q1. What is P2P process
Ans. 
P2P process stands for Procure-to-Pay process, which involves the steps from requisitioning goods/services to making payment.
• P2P process starts with the requisition of goods or services needed by a department.

• Next, the purchase order is created and sent to the supplier for approval.

• Upon receiving the goods/services, the invoice is matched with the purchase order and goods receipt.

• Finally, payment is made to the supplie...read more
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Q2. What is ARC making
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ARC is a company that specializes in manufacturing and selling industrial equipment.
• ARC is known for producing high-quality machinery for various industries.

• They have a wide range of products including industrial robots, conveyor systems, and automated assembly lines.

• ARC has a strong reputation for innovation and customer satisfaction in the industrial equipment market.
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Q1. Experience on Purchase ?
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Q2. Procurement strategy and Negotiation ?
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Q3. Last Company material purchase strategy ?
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The last company's material purchase strategy involved optimizing procurement processes, leveraging supplier relationships, and implementing cost-saving measures.
• Implemented a centralized procurement system to streamline purchasing activities

• Negotiated long-term contracts with key suppliers to ensure stable pricing and availability

• Conducted regular supplier evaluations to assess performance and identify areas for impro...read more
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Q1. Question About procurement?
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Q2. How to Negotiate with Vendor in terms of Evolution.
Ans. 
Negotiating with vendors involves effective communication, research, and finding mutually beneficial solutions.
• Prepare by researching market prices and vendor alternatives.

• Clearly communicate your requirements and expectations.

• Listen to the vendor's perspective and understand their constraints.

• Explore options for cost reduction, bulk discounts, or value-added services.

• Consider long-term partnerships and loyalty program...read more
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Q3. How to calculate material actual price
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Material actual price can be calculated by considering the cost of raw materials, production expenses, and overhead costs.
• Calculate the cost of raw materials used in production

• Include production expenses such as labor, utilities, and equipment costs

• Factor in overhead costs like rent, insurance, and administrative expenses

• Sum up all these costs to determine the material actual price
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Q4. Negotiation on white basis?
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Q5. How to find what item you purchased right material?
Ans. 
To find the right material for a purchase, conduct thorough research, analyze specifications, compare prices and quality, and seek recommendations.
• Research different suppliers and manufacturers to identify the available materials.

• Analyze the specifications of each material to ensure it meets the required standards and criteria.

• Compare prices and quality of the materials from different sources to make an informed decisi...read more
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Q6. How to find shortage ?
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To find shortage, analyze inventory levels, track demand, and monitor supply chain.
• Analyze inventory levels regularly to identify any shortages.

• Track demand patterns and forecast future demand to anticipate shortages.

• Monitor the supply chain for any disruptions or delays that may lead to shortages.

• Maintain good communication with suppliers to ensure timely delivery of goods.

• Implement effective inventory management tech...read more
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Q7. New vendor development?
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Q1. Procurement strategy and Negotiation?
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Q2. How to get right item.
Ans. 
To get the right item as a Purchase Manager, one must consider factors such as quality, price, supplier reliability, and specific requirements.
• Define the specific requirements and specifications of the item needed

• Research and identify potential suppliers or vendors

• Evaluate the quality and reliability of the suppliers

• Compare prices and negotiate for the best deal

• Consider factors like delivery time, after-sales support, ...read more
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Q1. Discussion on Salary and Notice period
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Q2. Family Background
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Q1. Tell me about your self.
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Q2. What type of Procurement experience?
Ans. 
I have extensive experience in strategic sourcing, supplier relationship management, contract negotiation, and cost reduction initiatives.
• Strategic sourcing to identify cost-saving opportunities

• Supplier relationship management to ensure timely delivery and quality products

• Contract negotiation to secure favorable terms and conditions

• Cost reduction initiatives to optimize procurement processes

• Experience in implementing e...read more
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Procurement journey and procurement experience

Q1. Purchase execution
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