Procurement Lead
Procurement Lead Interview Questions and Answers
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Q1. What is the explanation of the supply chain process?
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
Q2. What tools do you commonly use in your work?
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
Q3. Explain MRP and parameter necessary to rum MRP
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
Q4. How MRP planning works ,
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
Q5. ways to find new suppliers.
There are several ways to find new suppliers, including attending trade shows, searching online directories, and asking for referrals.
Attend trade shows and conferences related to your industry
Search online directories such as ThomasNet or Alibaba
Ask for referrals from industry contacts or business partners
Use social media platforms like LinkedIn to connect with potential suppliers
Utilize supplier databases like Dun & Bradstreet or Ariba
Consider working with a procurement con...read more
Q6. Explain real case scenario
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
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Q7. Explain Procurement process
Procurement process involves identifying needs, selecting suppliers, negotiating contracts, and managing supplier relationships.
Identify the need for goods or services
Select potential suppliers and evaluate them
Negotiate contracts and terms
Place orders and receive goods or services
Manage supplier relationships and performance
Monitor and evaluate procurement process for continuous improvement
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