Procurement Interview Questions & Answers

Supply Chain Game Changer

Article and permission to publish here provided by Nikita S at [link]. Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. This is particularly apparent if you are hiring a Procurement professional, you are looking for a Procurement job, you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Which are the key Procurement metrics?

COVID-19: Implications on inventory planning, sourcing and procurement

EFT

It has been a huge challenge to understand what is changing moment-to-moment, let alone predicting what will happen, so eft by Reuters sat down in a webinar with experts working at the coalface of inventory planning and distribution to understand what can be done to survive and thrive. Visibility is the centrepiece … not only in terms of where my inventory is, in which channel, and where to move it, but also in consumer demand, and how can I be ahead of that game and forecast the demand?”

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Procurement & Suppliers: Paying Attention to Terms & Conditions to Keep Supplier Relations Postitive

Cerasis

Editor's Note: Today's blog is by our great friend, Chuck Intrieri where he gives us a fantastic example of how Procurement and Suppliers can enhance Supplier Relations by navigating the "Battle of the Forms.". As I’ve mentioned in previous articles supplier relations are an essential component of a sustainable and functional supply chain. Procurement

Featuring Our 10 Best Warehouse Order Fulfillment Articles!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! Our latest “Featuring” series article covers the topic of Warehouse and Distribution Centre order fulfillment. So take some time and check out our very best Warehouse and Distribution Centre fulfillment articles!

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5 steps for Procurement to impact on financial results

Claritum

Claritum Article - Procurement Blog. Address Procurement Strategy. Focus Procurement on supplier optimisation. Don’t lose Procurement’s focus on costs. Keep Procurement up to date. It is procurement at the heart of any impact on P&L. Articles

Top 7 Benefits of System driven Inventory Projections

Arkieva

Scientific and system-driven Inventory Projection facilitates a quick decision-making process and enables a prompt analysis of alternative what-if scenarios. The following are the top 7 benefits of system driven inventory projection. Top 7 Benefits of System driven Inventory Projections was first posted on September 5, 2019 at 10:26 am. ©2017 If you are not reading this article in your feed reader, then the site is guilty of copyright infringement.

4 Reasons to Integrate Order-to-Cash & Procure-to-Pay

OneSCM

The ease of implementing and onboarding supply chain management solutions gives wider visibility in manufacturing, as well as orders and inventory. Bundling order-to-cash and procure-to-pay functions not only gives companies a holistic view of their supply chain operations, but also improves decision-making and business growth. In some instances, sales can become risky; procurement staff maintain higher buffer stock levels as a safety net.

Procurement Transformation Delays – The Role of Personality!

Supply Chain Game Changer

Article provided to Supply Chain Game Changer by Katalin Brennan at Eyvo E-Procurement. We’ve all heard of the need for Procurement to embrace the Digital Transformation for many years. There are few procurement-specific personality surveys available. However, I am aware of one from Pierre Mitchell that found the Myers-Briggs ESTJ type is the dominant one in procurement with over 20% of survey takers. Time to Look into the Future of Procurement!

Digitized Procurement: Your Setting-off Point to Autonomy

Jaggaer

In five to ten years, procurement in many of the world’s leading companies will be “truly digital”. They will have succeeded in transforming their procurement organizations to leverage artificial intelligence-based technologies to achieve autonomous procurement. Autonomous Procurement: The Reality versus the Hype. Over the coming months, we will identify and describe the four levels of development stages on the road to autonomous procurement.

The Supply Chain Detective™ and the Inventory Turnover Mystery!

Supply Chain Game Changer

Featuring Our 10 Best Inventory Management Articles! As I settled into the job and started learning, and studying, the various Supply Chain metrics I was surprised when I looked at the Inventory Turnover performance of the company. The Inventory Turnover Mystery had been solved!

It’s Time to Revisit Vendor Managed Inventory

synchrono

A few decades ago, Vendor Managed Inventory (VMI) was a hot topic. Many manufacturers saw it as a way to reduce inventory levels and costs. If they could get their suppliers to maintain ownership of raw materials or subcontracted components until consumed, inventory levels would naturally drop—on paper anyway. And if the forecast was overstated, the manufacturer didn’t need to worry about excess vendor-managed raw material or contracted-components inventory.

Optimising M&M Spares Supply Chain – LogiSYM August 2020

The Logistics & Supply Chain Management Society

15% decrease in inventory. With Blue Yonder capabilities, Mahindra & Mahindra Spares Business Unit (M&M SBU) now has greater visibility regarding demand, inventory, supply and distribution plans and are able to make more accurate and timely supply chain decisions.

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Do You Understand Your Chief MRO Inventory Challenges?

Logistics Bureau

Given this knowledge then, does your organisation place enough importance on the management of MRO inventory? If yours is one of them, and you’re wondering where and how to start getting a grip on MRO inventory, this post might help. Read on to discover the most common MRO inventory challenges and issues, the consequences of leaving them unresolved, and most importantly, the potential benefits of overcoming them. MRO Inventory Forecasting: A Matter of Opinion?

Using Lean Management for Inventory!

Supply Chain Game Changer

Lean management article originally published by Veridian at [link] Permission to publish here provided by Jason Rosing. What is Lean Inventory Management? Lean supply chain and inventory management enable Small Medium Businesses (SMB) to improve efficiency and increase profits.

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10 Inventory Management Hacks You Can Do in 10 Days

Supply Chain Opz

Inventory management is one of the most important tasks for supply chain management professionals. However, most inventory control theories are too complicated or too difficult to apply to real world situations. Then, this article will show you 10 simple principles that you can use to streamline your inventory management practices right away. Imagine an inventory controller reserves the items but warehouse workers can''t find where they are.

How Inventory Management is Paving the Path Forward in an On-demand World

Unleashed

Inventory management in an on-demand world is one of the biggest challenges in the supply chain today. Inventory management involving brick-and-mortar stores as well as eCommerce is ever-evolving and more dynamic than ever before. This article looks at how inventory management is paving the path forward in an on-demand world and what this means for business owners. What if the distribution centre manages both store and eCommerce inventory stock?

Capitalising on Supply Chain Digitisation with Robotic Process Automation – 10 Areas of Opportunities – LogiSYM August 2020

The Logistics & Supply Chain Management Society

This article explores 10 possible areas in which can help at each stage of the flow in Supply Chain Management. Procurement. Procurement can also have RPA do dynamic searches of websites to source or conduct market research for future buys and tenders. Inventory Management.

Can an AI put together your procurement better than you?

EFT

GoExpedi, a procurement solutions and supply chain management provider, has announced the initial release of predictive ordering capabilities for its e-commerce and company management platforms. GoExpedi will continue to provide data analysis for all its customers which includes reviewing catalog management, inventory planning and cost reduction.

Transforming the GCC Chemical Industry with Supply Chain Integration – LogiSYM September 2020

The Logistics & Supply Chain Management Society

Realising operational and cost efficiencies will reduced lead times, improved forecast accuracy and increased inventory turnover. Successful collaboration will result in several benefits – reductions in lead times, improved in-stock fill rates, improved forecast accuracy, and increased inventory turnover. Article September 2020The GCC chemical industry is second largest manufacturing industry in value add, after refining.

How AI Solves the Riddles of Inventory Management

Aera Technology

by Kaushal Dave, Vice President of Cognitive (AI) Solutions, Aera Technology The problems that pervade inventory management are well known: Excess inventory languished in warehouses, tying up millions of dollars in working capital. How can we best manage expiring inventory?

Surviving Disruptions – an opportunity for supply chains to thrive with people and technology – LogiSYM July 2020

The Logistics & Supply Chain Management Society

As an offspring of globalisation, supply chains are focused on optimisation – cost reduction, just-in-time deliveries and tight inventory-to-sales ratios. A significant paradigm shift in procurement and inventory control is an emerging area of focus. Calls for more effective transportation capacity planning, inventory management, multi-sourcing and diversified supplier base strategies are crucial to mitigate business continuity in case of a crisis.

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Healthcare Supply Chain Software: Features You Need

Hybrent

Electronic Procurement. Inventory Management. Healthcare supply chain management software takes the guess work out of inventory because it is directly tied to ordering. That means inventory is updated in real time to reflect when items are ordered, in stock, or on back-order. Blog Articles Approval Workflows e-Procurement Integrations Inventory Management Invoicing Order Tracking Preference Cards Reporting Supply Chain Management

Physician Supply Management: Streamline Your Medical Supply Chain

Hybrent

If you can access your inventory in real time, you can ensure that supplies are available when your medical staff needs them. If you’ve been dealing with manual inventory tracking, you are aware of how challenging that can be. Streamlined medical supply chain technology eliminates that struggle, and pares your entire inventory down to one, easy-to-use software. Blog Articles e-Procurement Inventory Management Patient Care Requisition Supply Chain Management

Why is Supply Chain Such a Great Career Path?

Supply Chain Game Changer

In our article “ What Exactly is Supply Chain Management? SCM encompasses the integrated planning and execution of processes required to optimize the flow of materials, information and financial capital in the areas that broadly include demand planning, sourcing, production, inventory management and storage, transportation — or logistics — and return for excess or defective products. supplychainmanagement #humanresources #procurement #logistics #jobs.

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How to Make Your Business Punchout Ready!

Supply Chain Game Changer

Manage Procurement Spend Like It’s Your Own Business! Article written for Supply Chain Game Changer by, and permission to publish here provided by, Samantha Wallace at greenwingtechnology.com. A punchout catalog allows your clients to access your inventory right in your procurement system directly. All while this is happening your order through your supplier has been put in for the client, or the inventory has been pulled off to be shipped to the buyer.

Procurement as a strategic advisory resource

Claritum

Claritum Article - Procurement Blog. Defining the Perfect Procurement World. Achieving the perfect Procurement world. Procurement needs to transform and continue to transform to align to the business. 2 Defining the perfect Procurement world. Articles

What is Supply Chain Management (SCM)? (Video)

Supply Chain Game Changer

What Exactly Is Procurement? Our most popular blog article of all time on Supply Chain Game Changer was the article What Exactly is Supply Chain Management? supplychainmanagement #scm #supplychain #procurement #logistics #distribution #purchasing #technology. Freight and Logistics Inventory Management Procurement Reverse Logistics Supply Chain Management Technology Distribution Logistics Purchasing SCM supplychain supplychainmanagementSubscribe Here!

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Time to turn around inventory falls by two days says new report

EFT

The median time for retailers to move returns back to inventory ready for resale has fallen from 2017 to 2018, from a median of seven days down to five days. of retail respondents report that their average time to restock returns is three days or less, marking out a clear focus on agility of inventory that can accommodate a more e-commerce-centric environment and a higher returns volume. . Gabi Weisel, Director Global Indirect Procurement, Estée Lauder.

Origin of Logistics & Supply Chain Revealed! - SupplyChainOpz

Supply Chain Opz

The purpose of this article is to shed the new light on this topic, who coined the terms, the true meaning of the terms and its relationship with other disciplines. According to Lummas et al 2001 , the word "Logistics" in English appeared in the article as early as in 1898. In 1905, The newspaper "The Independent" published the article that contained the word "Supply Chain" for the first time, Image Credit : Google Books. NAVIGATE. Basics. Case Studies. Graphics. All Posts.

Catastrophic Impacts of COVID19 in Bangladesh Apparel Supply Chain

NC State SCRC

An article written by my former PhD student, Rejaul Hasan, and I just came out this week in Contracting Excellence , the journal published by IACCM, which documents the catastrophe that is unfolding in Bangladesh, one of the world’s major exporters of garments for the apparel sector. He could have called me, and we could have worked something out, and found a way to delay payments, hold the inventory in stock for a period, take a partial shipment or other arrangement.

It’s Time to Welcome The Supply Chain CEO!

Supply Chain Game Changer

Argentus is a boutique recruitment firm focused on Supply Chain and Procurement. An article in the Wall Street Journal called Supply Chain the hot new MBA , outlines how more and more future business leaders are also coming around to seeing the function as a career of the future.

Are We Facing the End of Supply Chain Management?

Supply Chain Game Changer

Blog post originally published by, and permission to publish here provided by, Argentus at [link] , a boutique recruitment firm focused on Supply Chain and Procurement. A new article in Harvard Business Review has been generating some automation-related controversy in the Supply Chain Community, as well as lots of buzz and interesting conversation. Companies will always need people who can build relationships with vendors when conducting large-scale Procurement.

Still Don’t Know How Many Slaves Are In Your Supply Chain?

Talking Logistics

Last week, the Chartered Institute of Procurement & Supply (CIPS), a leading international body representing purchasing and supply management professionals, issued a press release highlighting findings from a survey it conducted showing that relatively few companies are ready to comply with the UK’s Modern Slavery Act , which was passed in March 2015 with enforcement set to begin on April 1, 2016. How many slaves are in your supply chain?

How To Differentiate With A Supplier Relationship Management (SRM) Program!

Supply Chain Game Changer

This article will look at a model for stratifying and segmenting your supply base within the confines of a structured and formal supplier relationship program (SRP). The sourcing or procurement function will own the relationship and manage the overall process. Subscribe Here!

Create a Responsive Supply Chain to Handle Peaks and Lulls!

Supply Chain Game Changer

Responsive Supply Chain article originally published by, and permission to publish here provided by, Dave Joseph at veridian.info. Even while inventory remains in place, shippers are uncertain what exactly needs to happen. Reduced inventory carrying costs. Subscribe Here!