Procurement

Are you looking for a career in procurement management? Then checkout these expert created questions and answer, which can help you to ace the job interview.

Q.1 What is the best time to use procurement?
Procurement must be used when a business requires support to acquire goods or services such that in order to have procurement involved from the start of a project that enables the business to ensure it is getting the right service for the best value. The key to procurement is early engagement is key, such that procurement should be seen as a neutral voice of commercial reason, that helps the business shape the requirements using cross-category and market knowledge.
Q.2 What value is derived from a procurement team?
A procurement team makes sure the right process is taken for each acquisition. This can range from a simple negotiation, to distributing an RFP, to challenging the business requirements and then challenging and implementing the supplier’s proposal. Additionally a procurement team must consistently engage with the external market, such that it has access to the most recent trends and pricing available.
Q.3 How will a procurement team assist if they are not specialists in a particular industry?
It is very important to understand whether a procurement team specialises in a particular industry or not should not have a great impact on the value they can bring to the project. Also working closely with the stakeholders and applying the standard process must deliver a good outcome. Therefore in case an industry is uniquely complex, then procurement consultants normally have good relationships with procurement industry specialists such that they can liaise when necessary.
Q.4 What are the key risks that concerns the Procurement function need to consider and manage?
You might be knowing the answer to this, but it is suggested to see that your answer consistently supply availability. Some of the concerns of procurement function are -
Identify how people respond that purchased part cost, or excess and obsolete materials are the biggest issue
What policies, processes, and work instructions exist for the Procurement organization and for the company’s interaction with Procurement?
Seek for quality, consistency, quantity and revision dates here.
Documents should have been issued to suppliers to outline expectations.
Q.5 What is the extent to which procurement/ sourcing function are engaged as a partner in the business?
It is observed that the organization treats the procurement function as a key partner in achieving its goals. In case its more of an indicator of the maturity of the rest of the organization. In which case procurement may be required to be effective at promoting its value to the organization in order to facilitate this.
Q.6 What is the procurement/ sourcing organization have a formal process to collect and analyze supplier and market intelligence?
One of the key element in preparing an effective procurement strategy is to collect, organize, interpret and apply information about the suppliers of a particular commodity, and the marketplace for that commodity.
Get Govt. Certified Take Test