YASH Technologies Strategic Sourcing Lead Interview Questions and Answers

Arthematic and reasoning

Q1. What is strategic sourcing
Ans. 
Strategic sourcing is a proactive approach to procurement that focuses on long-term value creation and supplier relationship management.
• Strategic sourcing involves analyzing the organization's needs and identifying the best suppliers to meet those needs.

• It aims to optimize costs, quality, and delivery by leveraging market intelligence and negotiating favorable contracts.

• Strategic sourcing emphasizes long-term partnersh...read more
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Q2. What is the s2p process
Ans. 
The s2p process refers to the source-to-pay process, which encompasses all activities from sourcing suppliers to making payments.
• The s2p process involves identifying and selecting suppliers.

• It includes negotiating contracts and pricing with suppliers.

• It also involves managing supplier relationships and performance.

• The process includes requisitioning, ordering, and receiving goods or services.

• It encompasses invoice proc...read more
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