Sourcing Leader Interview Questions and Answers

The end-to-end process for the Source-to-Pay (S2P) system involves multiple steps from sourcing suppliers to making payments.

• Sourcing suppliers: Identify potential suppliers through research, negotiations, and contracts.

• Procurement: Purchase goods or services from selected suppliers.

• Invoicing: Receive and process invoices for the purchased goods or services.

• Payment: Make payments to suppliers based on the agreed terms.

• Supplier management: Monitor supplier performance and rela...read more

Benchmarking analysis is a process of comparing an organization's performance metrics to industry standards or best practices to identify areas for improvement.

• Involves comparing key performance indicators (KPIs) such as cost, quality, and delivery time with industry benchmarks

• Helps identify areas where the organization is lagging behind or excelling compared to competitors

• Provides insights for setting performance targets and improving processes

• Examples include benchmarking a...read more