FDC Procurement Interview Questions and Answers

P2P process is the procurement process from purchase requisition to payment.

• Purchase requisition is created

• Purchase order is generated and sent to supplier

• Goods or services are received and inspected

• Invoice is received and matched with purchase order and goods receipt

• Payment is made to supplier

Incoterms are a set of standardized trade terms used in international commercial transactions.

• Incoterms define the responsibilities of buyers and sellers in terms of transportation, insurance, and customs clearance.

• They also determine the point at which risk and responsibility transfer from the seller to the buyer.

• Examples of Incoterms include FOB (Free on Board), CIF (Cost, Insurance and Freight), and EXW (Ex Works).