Procurement Team Lead Interview Questions and Answers

SCM focuses on the flow of goods and services from suppliers to customers, while operations management focuses on the internal processes of a company.

• SCM involves managing the entire supply chain, from sourcing raw materials to delivering finished products to customers.

• Operations management involves managing the internal processes of a company, such as production, inventory management, and quality control.

• SCM is focused on optimizing the flow of goods and services to meet cus...read more

Negotiations impact business life cycle by affecting costs, relationships, and outcomes.

• Negotiations can impact the cost of goods and services, affecting profitability and competitiveness.

• Negotiations can also impact relationships with suppliers, customers, and other stakeholders.

• Successful negotiations can lead to positive outcomes such as improved quality, increased efficiency, and innovation.

• Poor negotiations can lead to negative outcomes such as delays, disputes, and dama...read more

Procurement process involves identifying needs, selecting suppliers, negotiating contracts, and managing inventory.

• Identify the need for goods or services

• Select suppliers based on criteria such as price, quality, and delivery time

• Negotiate contracts with suppliers to ensure favorable terms

• Manage inventory levels to maintain minimum stock

• Monitor supplier performance and make adjustments as needed

IT procurement cycle involves identifying IT needs, selecting vendors, negotiating contracts, and managing supplier relationships.

• Identify IT needs and requirements

• Research and select potential vendors

• Negotiate contracts and pricing

• Place orders and manage delivery

• Track and manage supplier relationships

• Evaluate and review performance

• Renew or terminate contracts as needed