Sourcing Analyst Interview Questions and Answers for Freshers

P2P cycle refers to the Procure-to-Pay cycle, which is the process of purchasing goods or services and paying for them.

• The cycle starts with identifying the need for a product or service.

• Next, a purchase requisition is created and approved.

• Then, a purchase order is issued to the supplier.

• Goods or services are received and inspected.

• An invoice is received and matched to the purchase order and receipt of goods.

• Finally, payment is made to the supplier.

• The P2P cycle is a critical...read more

Sourcing analysts are responsible for identifying, evaluating, and selecting suppliers for goods and services.

• Analyze supplier capabilities and financial stability

• Negotiate contracts and pricing terms

• Monitor supplier performance and address any issues

• Collaborate with internal stakeholders to understand sourcing needs

• Utilize data and market trends to make informed sourcing decisions