Procurement Lead Interview Questions and Answers

The supply chain process involves the flow of goods and services from the initial production to the final delivery to the customer.

• The supply chain process starts with sourcing raw materials or components

• It then involves manufacturing or assembling the products

• Next, the products are stored in warehouses or distribution centers

• Finally, the products are delivered to the end customers

• Supply chain process also includes activities like demand forecasting, inventory management, and...read more

I commonly use tools such as ERP systems, e-procurement platforms, Excel, and supplier databases in my work as a Procurement Lead.

• ERP systems

• E-procurement platforms

• Excel

• Supplier databases

MRP stands for Material Requirements Planning. Parameters necessary to run MRP include bill of materials, inventory levels, lead times, and master production schedule.

• MRP is a system used for planning and managing production processes.

• Bill of materials (BOM) is a list of all components needed to manufacture a product.

• Inventory levels help determine when to order materials to meet production demands.

• Lead times refer to the time it takes for materials to be delivered after orde...read more

MRP planning is a system used to manage production processes by determining materials needed and scheduling production.

• MRP stands for Material Requirements Planning

• It involves creating a master production schedule based on demand forecasts

• MRP calculates the materials needed for production based on the bill of materials and lead times

• It helps in managing inventory levels and ensuring timely production

• MRP can be integrated with ERP systems for better efficiency

Implemented cost-saving measures by renegotiating contracts with suppliers

• Identified areas of potential cost savings

• Analyzed current contracts and terms

• Negotiated with suppliers for better pricing or terms

• Implemented new contracts or renegotiated existing ones

• Measured and tracked cost savings achieved