10+ Procurement Associate Interview Questions and Answers

P2P cycle is the process of procuring goods or services from a supplier, while catalogue is a list of available items for purchase.

• P2P cycle involves requisition, purchase order, receipt of goods or services, and payment to supplier.

• Catalogue is a list of items available for purchase, often with descriptions and prices.

• Catalogues can be physical or digital, and can be used to streamline the procurement process.

• Catalogues can also be customized to meet the specific needs of a ...read more

The cycles of Supply Chain Management include Plan, Source, Make, Deliver, and Return.

• Plan: Forecasting demand, creating a procurement plan, and developing a production schedule.

• Source: Identifying suppliers, negotiating contracts, and managing relationships.

• Make: Manufacturing or assembling products, testing quality, and managing inventory.

• Deliver: Coordinating logistics, managing transportation, and ensuring on-time delivery.

• Return: Managing returns, repairs, and recycling ...read more

Bidding procedure is the process of submitting proposals for a project. World Bank framework is a set of guidelines for procurement.

• Bidding procedure involves preparing and submitting proposals for a project

• World Bank framework provides guidelines for procurement processes

• The framework includes rules for competitive bidding, evaluation of bids, and contract awarding

• The framework also emphasizes transparency, fairness, and accountability in procurement processes

• Bidders must co...read more

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 timely delivery and quality of goods/services

Procurement involves acquiring goods and services from external sources to support an organization's operations.

• Procurement is the process of finding, acquiring, and buying goods, services, or works from an external source.

• It involves identifying the needs of the organization, selecting suppliers, negotiating contracts, and managing supplier relationships.

• Procurement aims to ensure that the organization receives the best value for money, while maintaining quality and efficien...read more

Supplier enablement is the process of onboarding and empowering suppliers to efficiently and effectively conduct business with a company.

• Supplier enablement involves providing suppliers with the necessary tools, resources, and information to streamline the procurement process.

• This can include implementing electronic procurement systems, providing training and support, and establishing clear communication channels.

• By enabling suppliers, companies can improve supplier performan...read more

Document posting is the process of uploading or entering documents into a system for record-keeping or sharing purposes.

• Document posting involves uploading or entering documents into a system.

• It is commonly used in accounting and procurement to record transactions and invoices.

• Document posting helps in maintaining accurate records and facilitating easy access to information.

A purchase requisition is a formal request to procure goods or services.

• It is a document used to request the purchase of goods or services

• It includes details such as quantity, description, and budget allocation

• It is typically approved by a manager or supervisor before the purchase is made

Procure to pay is the process of acquiring goods or services from a vendor and paying for them.

• Procure to pay involves several steps including identifying the need for goods or services, selecting a vendor, negotiating terms, creating a purchase order, receiving the goods or services, and processing payment.

• The process can be automated using procurement software to streamline the process and reduce errors.

• Examples of procure to pay systems include SAP Ariba, Coupa, and Oracle...read more

Dunning is the process of communicating with customers to collect overdue payments.

• Dunning involves sending reminders, notifications, and warnings to customers who have not paid their bills on time.

• It may include phone calls, emails, letters, or automated messages.

• The goal of dunning is to encourage customers to pay their outstanding balances and maintain positive relationships.

• Dunning can also involve offering payment plans or negotiating settlements with customers.

• Failure t...read more