Procurement Interview Questions & Answers

Supply Chain Game Changer

Procurement, or Purchasing, is an area of Supply Chain that involves and requires very specific skills and expertise. Check out this list of 25 Procurement and Purchasing questions and answers. And you don’t need to purchase an expensive procurement technology suite to do so.

5 Quality Metrics Predicting The Future Of Manufacturing

IQMS

Bottom Line: Manufacturers are reaching a new level of results in 2018 because they have clearer, more actionable insights based on real-time manufacturing and quality metrics than ever before. Quality Metrics Enable Customer-Driven Manufacturing Networks.

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

Take Supply Chain

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. For example: how much would more timely document submissions and responses (PO/POACK, ASN, Invoice, etc.)

Rating Sustainability Performance: An Essential Business Metric

EcoVadis

Read on for more details about EcoVadis ratings in this interview (first published on the ING Wholesale Banking site): Rating Sustainability Performance: An Essential Business Metric.

The Future of Procurement Is Upon Us. Are You Ready?

ivalua

Niul Burton wrote a great article in Industry Week titled “Procurement 2025: 10 Challenges that Will Transform Global Sourcing”. For those of you who are executives in Supply Chain, Procurement or New Product Introduction/Development, this is a must read.

SIG Webinar on Procurement Analytics and Innovative Data Leveraging

Supply Chain View from the Field

The webinar will also include Howard Richman, a colleague I have known for many years, first at Merck, and now working at Citrix as their Chief Procurement Officer. Also joining us will be Michael O’Leary, Director of Procurement Solutions at IBM. I emphasied to Alex that I had seen a similar trend – that purchasing executives seek to drive procurement value transformation, many find themselves struggling to make progress in these three areas of change.

Ensuring Workers’ Rights in Global Supply Chains

Supply Chain Brain

Too often, however, those documents fail to prevent unacceptable working conditions. Regulation and Compliance Quality & Metrics All Technology Supply Chain Visibility Sourcing/Procurement/SRMJust about every major manufacturer has a supplier code of conduct to ensure that workers are treated humanely. In a typical global supply chain, involving multiple tiers of production, the chances of failure are alarmingly high.

WMS and Cycle Counting: How to Reach Inventory Management KPIs

Veridian Solutions

Failure to track replenishment and procurement activities. A Guide to the Warehouse Metrics Supply Chain Execs Should Track. ” Skilled cycle counting refers to reducing instances of documenting discrepancies, following up on issues that led to inaccurate cycle counts, enabling process improvement, and taking corrective actions to minimize the inaccuracies in the future. As a result, Warehouse Managers may need to integrate picker performance metrics with this KPI.

KPI 40

How Many Slaves Are in Your Supply Chain?

Talking Logistics

The company is also stopping production in Ecuador, Venezuela, Belarus and Pakistan by April 2014 (these countries scored low in a World Bank report that assessed countries on accountability, corruption, violence, and other metrics).

Outsourcing Sourcing! 5 Lessons from Around the Globe!

Supply Chain Game Changer

Check out What is Virtual Procurement and Why Should You Care? Large companies can afford to have Strategic Sourcing Procurement staff around the world. Clarity as to what happens to cost, delivery and quality under these circumstances should be discussed and documented up front.

6 Trends to Make Supply Chain Managers the Heroes of Their Company!

Supply Chain Game Changer

They are the percentage of orders delivered to the right place, at the right time, in the proper condition, in the right package, with the right documentation, to the right customer, with the correct invoice and in the correct quantity. Subscribe Here! Email Address.

10 Greatest Purchasing Books Ever Written

Supply Chain Opz

Background Historically, purchasing people are considered a kind of clerical workers who are expected to perform basic tasks such as document issuance and price negotiation. After that, we collect various metrics of each purchasing book as below, - Citation counts: a basic bibliometric method showing how many times a book is cited by other publications. Of course, this metric will not be used in isolation. What are the essential purchasing books you should read?

Spectra Energy Supplier Forum: Driving Collaborative Project Management

Supply Chain View from the Field

Some of the important points that came out of the meeting included the following: RIGHT METRICS: In general, the right metrics include not just dollar measures of dollars spent, but true measures of Earned Value that involves measures of value that are meaningful to project stakeholders. Daily metrics of on-time, project dollars spent versus budget, and key milestones on time, as well as the use of two-way scorecards are important.

New Student Projects Suggest Greater Focus on Analytics

Supply Chain View from the Field

This year was no exception, and we have a cadre of bright MBA, industrial engineering, and manufacturing system engineering students lined up to work on the following projects: American Red Cross – Procurement Card Analysis – Reviewing spend analytics through p-card buying channels, and identifying key trends and consolidation opportunities. The team will benchmark industry leaders to document and define best practices for measuring total acquisition cost. .

9 Key Topics to Understand to Frame A Shipper’s Mind for Effective KPI Management with a 3PL

Cerasis

Editor's Note: As of late you may have noticed we have written a lot about procurement and the future of procurement. A large part of procurement is finalizing the contract and then the follow through of the determined deliverables in that agreement. The next step in procurement is then managing vendors and keeping service providers accountable for continued improvement. All KPIS have metrics to measure.

KPI 248

Cognitive Data Capture – Setting a New Baseline to Digitize Invoices

ivalua

In data science, precision and recall are two metrics that best describe the behavior of these two methods. New Research ai ai in procurement artificial intelligence rpaChristopher Bourez, Artificial Intelligence Architect , Ivalua.

Data 141

Aceelerating Productivity Needs of Supply Chain Reference Model Initiatives

Supply Chain Matters

We all know that today, industry supply chains are driven by customer requirements and service needs, and the SCOR model is a tool that helps organization’s with a single standard reference upon which to understand the processes that make-up the supply chain along with their relationships to performance metrics. The power of SCOR is that it does not document the supply chain in the lens of functions (planning, procurement, manufacturing, logistics, etc.)

How to Sustain a Lean Culture in Manufacturing & Supply Chain

Cerasis

All activities are documented by a team recorder. It typically describes how a process should consistently be executed and documents current ‘best practices.’ These metrics would, of course, be aligned and are updated every hour.

Lean 237

Getting that “Swing” in Supply Chain Management

Talking Logistics

What you find instead are functional groups — such as Manufacturing, Distribution, Sales and Marketing, and Procurement — operating in silos, like a boat full of rowers each doing their own thing. How do you successfully align goals, metrics, and resources across functional groups?

Data is the Real Gold At the End of the Rainbow for Contract and Spend Management Systems

NC State SCRC

Contract analytics can provide a summary view on performance and pricing deviations, risks, statistics (expiry, renewal and pending), procurement and sales metrics. In a presentation at the EMPOWER conference held in Orlando, a large utility shared how procurement had used the decision-making algorithm embedded in the Emptoris suite of tools to guide users into the appropriate contractual mechanism.

Driving Organizational Alignment

Supply Chain Shaman

In supply chain strategy documents, terms like alignment, agility, responsiveness, and flexibility dot the page. In discrete industries, the early supply chain organizations reported to procurement. How can we move forward if we cannot align?

S&OP: Five Steps to Get Started

Supply Chain Shaman

I urged him to take his corporate strategy document and set up a meeting with each profit center manager. For most companies, greater economy of scale is possible through the global management of procurement and transportation and local management of sales, manufacturing and customer service.

S&OP 284

Off to another exciting year of student-industry engagement at NC State on cutting-edge supply chain projects

NC State SCRC

The students will review and document the current geography allocation process for Surplus/excess, Overage and Unconsumed Purchase parts inventory (SOUP). MUFG Union Bank Strategic Performance Metrics.

Beyond Spend Analytics: Supplier Life Cycle Data

Supply Chain View from the Field

Then the evaluation of the supplier must be documented, and linked presumably to a category strategy (although not in all cases…). And an active supplier will also start sending you things – but are they doing it on time, and what are the metrics with the delivery of the contracted product or service. That is a whole process during the procure to pay process called reconciliation.

I am MAD!

Supply Chain Shaman

We can connect through EDI, but a document has latency and limitations for unstructured data. Lora has written the books Supply Chain Metrics That Matter and Bricks Matter , and is currently working on her third book, Leadership Matters.

Made in “I Really Don’t Know”

Talking Logistics

Here are some recommendations: Identify and document the root causes of poor supply chain visibility. no metrics, operate in functional silos). Define and document Supply Chain Mapping business processes. Therefore, the first step is to define those processes, along with who will execute and manage them and what the right metrics should be.

Infor’s Acquistion of GT Nexus: If I Had a Magic Wand

Supply Chain Shaman

The Ariba infrastructure is so heavily entrenched in indirect procurement processes that it is hard to adapt to the solution to manage direct materials in the supply chain. The traditional EDI approach inserts a day latency to open and read documents.

3 Ways to Drive Growth in Your Manufacturing Business

IQMS

Measuring your progress towards the goal of excelling as a supplier provides the needed analytics, metrics and KPIs that are essential for providing direction and intensity of effort in your company’s culture to always excel.

At the Starting Line: New Year’s Resolutions for Supply Chain and Logistics Executives

Talking Logistics

The good news is that leading practices in supply chain risk management are well documented in various books and publications , and new software applications are emerging to help companies manage this process. Happy New Year! I hope you all had a fun and relaxing holiday.

Managing Legal Aspects of the Implications of a Hurricane on the Supply Chain

Material Handling & Logistics

The Institute for Supply Management (ISM) recently released the results of a special survey to assess how Hurricane Harvey impacted six key metrics. In other circumstances, parties may lack any contract and rely upon purchase orders or other short forms of documentation.

Managing for Daily Improvement: Bridging the Gap Across Teams and KPIs

Talking Logistics

These teams then can identify the root causes that created shortfalls in reaching goals and ensures that the solution is documented. And the customers will feel that added value not only in metrics but also from a morale perspective.

Lean Transportation: Are you Using Lean Thinking for Transportation Management? If not, Why?

Cerasis

Metrics and Key Performance Indicators (KPIs) measure how well the shipper-transportation provider does in daily continuous improvement. Any detected waste needs to be documented and followed by problem-solving. Create daily route designs, complete real time track and trace, generate real-time metrics , and complete daily problem solving. “ The most dangerous kind of waste is the waste we do not recognize ”: Shigeo Shingo. Lean is a new way of doing business.

Lean 179

Insights from Elemica reveal 2014 Frankfurt

Talking Logistics

Specifically, the company deployed a Vendor Interaction Portal (VIP) powered by Elemica to exchange documents like purchase orders and invoices with suppliers (for direct procurement). What do the Germany World Cup Team and the Boston Red Sox have in common?

New French law to require for companies to report on GHG emissions in their supply chains

EcoVadis

KPIs can be provided by suppliers through the questionnaire along with respective documentation, e.g. CSR reports , or with the help of EcoVadis’ partnership with Carbon Disclosure Project (CDP) , whose reports are directly taken into account if a supplier is registered.

5 New Year’s Resolutions for Supply Chain & Logistics Executives

Talking Logistics

The good news is that leading practices in supply chain risk management are well documented in various books and publications , and new software applications are emerging to help companies manage this process. You have to equate the value proposition to metrics the CFO understands and cares about, such as working capital, cash flow, and other items linked to the company’s P&L and balance sheet.