Procurement Specialist Interview Questions and Answers for Freshers

I consider the quality of the product first.

• Quality of the product

• Brand reputation

• Price

• Availability

• Customer reviews

Procurement is the process of acquiring goods or services, while supply chain management encompasses the entire flow of goods and services from procurement to delivery.

• Procurement involves the purchasing of goods or services needed for a business or organization.

• Supply chain management includes procurement as well as the coordination and management of all activities involved in the flow of goods and services.

• Procurement focuses on the sourcing, negotiation, and purchasing of ...read more

Ethical procurement involves ensuring that goods and services are obtained in a responsible and sustainable manner.

• Develop a code of conduct for suppliers that includes ethical standards

• Conduct due diligence on suppliers to ensure they meet ethical standards

• Monitor supplier performance to ensure ongoing compliance

• Collaborate with suppliers to promote ethical practices

• Consider the environmental and social impact of procurement decisions

• Report any unethical behavior or violatio...read more

Key aspects of sourcing include supplier selection, negotiation, contract management, and risk assessment.

• Supplier selection involves evaluating potential suppliers based on criteria such as quality, price, and reliability.

• Negotiation is crucial for securing favorable terms and pricing with suppliers.

• Contract management ensures that agreements are upheld and any issues are addressed promptly.

• Risk assessment involves identifying and mitigating potential risks in the supply cha...read more