Sourcing Executive Interview Questions and Answers

Zero based costing involves starting from scratch and justifying every expense in a budget.

• Start with a blank slate and justify every expense

• Analyze each expense and determine if it is necessary

• Prioritize expenses based on importance

• Consider alternative options for each expense

• Repeat the process for each budget cycle

• Example: A company may use zero based costing to evaluate their marketing budget and determine if certain expenses, such as expensive trade show booths, are neces...read more

Oil and gas industry involves exploration, extraction, refining, and distribution of petroleum products.

• Oil and gas industry is a major sector that involves the exploration, extraction, refining, and distribution of petroleum products.

• It plays a crucial role in the global economy, providing energy for various industries and transportation.

• Key players in the industry include ExxonMobil, Shell, BP, and Chevron.

• The industry is heavily regulated due to environmental concerns and ...read more

Global sourcing is the practice of procuring goods and services from different countries to take advantage of cost savings and other benefits.

• Global sourcing involves identifying and evaluating potential suppliers from different countries

• It helps in reducing costs, improving quality, and gaining access to new markets

• Examples of global sourcing include outsourcing manufacturing to China, IT services to India, and call centers to the Philippines

Yarn count is found by measuring the length and weight of a yarn sample.

• Yarn count is the measure of the fineness or coarseness of a yarn.

• It is expressed as the number of length units per unit weight of the yarn.

• The most common method of finding yarn count is by using a yarn balance.

• The yarn balance measures the length of a fixed weight of yarn.

• The count is then calculated by dividing the length by the weight.

• For example, if a 1 gram sample of yarn is 100 meters long, the yar...read more

The four strokes refer to the four cycles in a four-stroke internal combustion engine.

• Intake stroke: Fuel and air are drawn into the cylinder.

• Compression stroke: The fuel-air mixture is compressed.

• Power stroke: The spark plug ignites the mixture, causing an explosion that drives the piston down.

• Exhaust stroke: The piston pushes the exhaust gases out of the cylinder.

Yarn count is the measure of the fineness or coarseness of a yarn.

• It is the number of yarns per unit weight or length.

• The higher the yarn count, the finer the yarn.

• Yarn count is important in determining the quality and characteristics of a fabric.

• Examples of yarn counts include 20s, 30s, 40s, etc.

• Yarn count is usually indicated on the label of a fabric or garment.

Procurement is the process of acquiring goods or services from external sources.

• Identifying the need for goods or services

• Sourcing potential suppliers

• Negotiating contracts and prices

• Managing supplier relationships

• Ensuring timely delivery and quality of goods or services

• Controlling costs and optimizing value

• Examples: purchasing office supplies, hiring a contractor for construction work, outsourcing IT services