IBM Procurement Analyst Interview Questions and Answers

Procurement process involves identifying needs, sourcing suppliers, negotiating contracts, and managing supplier relationships.

• Identifying needs and requirements

• Sourcing potential suppliers

• Negotiating terms and contracts

• Managing supplier relationships

• Ensuring compliance with regulations and policies

Evaluation of vendors involves assessing their performance, capabilities, and reliability to ensure they meet the organization's needs.

• Assess vendor's track record and reputation

• Evaluate vendor's financial stability and resources

• Consider vendor's quality of products or services

• Assess vendor's responsiveness and communication

• Compare vendor's pricing and terms with competitors

• Review vendor's compliance with regulations a...read more

A purchase order is a document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services.

• It is a legal document that outlines the details of a purchase agreement between a buyer and a seller.

• It includes information such as the product or service being purchased, the quantity, the agreed-upon price, and delivery date.

• It serves as a contract between the buyer and seller, ensu...read more

To validate a PO, check for accuracy, completeness, and compliance with procurement policies.

• Verify that the PO number matches the one in the system

• Ensure that the vendor information is correct

• Check that the items ordered match the specifications and quantities requested

• Confirm that the prices are accurate and in line with the budget

• Ensure that the PO is authorized and approved by the appropriate personnel

• Check that th...read more

The 5 key fields in PR are supplier management, contract management, sourcing, negotiation, and spend analysis.

• Supplier management involves identifying and managing suppliers to ensure timely delivery of goods and services.

• Contract management involves creating and managing contracts with suppliers to ensure compliance and minimize risk.

• Sourcing involves identifying potential suppliers and evaluating their capabilities ...read more

PR is created by the PR department or agency, in collaboration with the relevant stakeholders.

• PR department or agency is responsible for creating PR

• Collaboration with relevant stakeholders is necessary

• PR creation involves identifying target audience, crafting key messages, and selecting appropriate channels

• PR can be created for various purposes such as brand awareness, crisis management, product launches, etc.

P2P cycle refers to the procurement process from purchase to payment.

• The cycle starts with identifying the need for a product or service.

• A purchase order is then created and sent to the supplier.

• The supplier delivers the product or service and sends an invoice.

• The invoice is matched with the purchase order and goods receipt.

• If everything matches, the invoice is approved for payment.

• Payment is then made to the supplier.

• ...read more