Diffferent types of Incoterms, Soucing strategies, SRM, concept of vendor consolidation.

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Answering questions related to Incoterms, sourcing strategies, SRM, and vendor consolidation for Deputy Manager position.

Incoterms are a set of rules defining the responsibilities of buyers and sellers in international trade.
Sourcing strategies involve identifying potential suppliers, negotiating contracts, and managing relationships.
SRM (Supplier Relationship Management) is the process of managing interactions with suppliers to maximize value and minimize risk.
Vendor consolidation involves reducing the number of suppliers to improve efficiency and reduce costs.
Examples of sourcing strategies include single sourcing, dual sourcing, and global sourcing.
Examples of vendor consolidation include reducing the number of suppliers for a particular category of goods or services, or consolidating suppliers across multiple categories.
Understanding Incoterms is important for managing international trade transactions and ensuring clear communication between buyers and sellers.
Effective SRM can help organizations build stronger relationships with suppliers, improve quality and delivery times, and reduce costs.
Vendor consolidation can help organizations streamline their supply chains, reduce administrative costs, and negotiate better pricing and terms with suppliers.