You can create a quadrant representing the four combinations of these two factors. Many, if not most, stakeholders will not care much about supporting procurement initiatives, especially when it involves inconvenient change to their work. Procurement Interview Questions And Answers 1. But they also need to display flexibility, skill, and outside-the-box thinking in order to address new challenges or identify and exploit potential supply chain improvements.”. A client BU is serviced by… Represents a BU that can requisition and process invoices for a specific supplier site. 10 interview questions every buyer should know I have been both an interviewer and an interviewee a number of times within my 14-year procurement career, during which I have come across and asked a variety of questions, some of which have been more successful and insightful than others. Evaluates the candidate's experience and their ability to procure suitable suppliers. What do they really want to know. Let’s begin! Lots of supply chain and procurement professionals have found my blogs Top 23 Supply Chain Interview Questions and Answers Guide and 21 Authentic Procurement Interview Questions and Answers Guide very useful and given very positive feedback, therefore, I thought I should spend good time in writing a detailed blog on Logistics Interview Questions. Therefore, they have a difficult time reporting cost savings in a way that people using financial statements will consider legitimate. How would you implement company-wide change driven by Procurement  to save money, and how would you get buy-in? Procurement Interview Questions "Procurement clerks are responsible for acquiring outside goods and services needed for business operations. In that case, cover damages would be a more appropriate remedy as your organization would be able to recover any financial loss without having the entire future of a project put at risk while you switch suppliers. To define cost savings in a way that will be embraced by executive management, you need to communicate cost savings in a way that can be reconciled with data on the organization’s official financial statements using the “language of accounting.”. For example, if the request is for a commonly purchased item from a contracted supplier, your organization’s source-to-pay system may automatically convert the requisition to a purchase order and dispatch it to the appropriate supplier without any manual intervention from the procurement department. This is particularly apparent if you are hiring a Procurement professional, you are looking for a  Procurement job,  you are looking to outsource anything, or you are dealing with Procurement people in the course of conducting business. Purchasing Agent Interview Questions. Or, if the request is for an expensive service that has never been bought by your organization before, you may want to begin a sourcing process at Phase I of the NLPA’s “10 Phase Approach to World-Class Sourcing.”. Question3: What is a punchout? What is a purchase requisition and how would you process it? Historically, there has been a gap between what procurement professionals consider to be “cost savings” and what executive management considers to be cost savings. How will you go about determining this company’s spending patterns? With this, you also get to know if internal stakeholder’s negotiations are allowed. How do you decide if you need a contract for a purchase or not? Crafting a team also requires strong strategic skills, and a practical and creative vision for how the team will function in pursuit of departmental and company-wide goals. What’s your relationship with the supplier? Purchasing Agent Interview Questions. Are you sitting comfortably? A procurement professional should have a large arsenal of negotiation skills and tactics. The … Buy it: Managing Supply. If you can’t answer these simple questions, you’re going to have a hard time impressing anyone at your interview. In this post, you can reference some of the most common interview questions for a procurement officer interview along with appropriate answer samples. What motivated you to apply for this position? For each of those tasks, you will list target commencement dates, actual commencement dates, target completion dates, actual completion dates, target annual savings and actual annual savings. Peter Smith - May 22, 2012 12:31 PM | Categories: Procurement good practice | Tags: best practice, People, recruitment. Are you currently pursuing additional educational opportunities? How do you define and approach purchasing—and procurement as a whole? Are you to begin from elementary school or college. And how would you engage with stakeholders to achieve total buy-in? All categories of spend identified in your spend analysis should be assigned to one of these quadrants. The answer to this question makes it immediately clear how much your prospect knows about purchasing as a function of procurement, and speaks to their existing skill set. Their answer will help you assess whether they are sufficiently self-motivated to handle such a task, and the autonomy that comes with it. How would you implement a cost-saving, value-building initiative across the entire organization? To identify these aptitudes and attitudes, you might ask more complex, multi-part questions such as: Please describe your top three career accomplishments. What’s your ideal corporate culture, and why? Question5: What are the key advantages of punch out over local catalog management? They are responsible for closing the best purchasing deals for products and services on the market to minimize company procurement costs. I don't remember exactly the question that was asked, but I do remember that there were some questions that tested ethics and others that looked at your strategic/problem solving skills. Managed spend as a percentage of total spend, Cost savings as a percentage of managed spend, Procurement operating costs as a percentage of managed spend. It’s a chance for both parties to break the ice, and guide the discussion toward more advanced job interview questions in later phases. Review these most frequently asked interview questions and sample answers, and then prepare your own responses based on your experience, skills, and interests. And while you may not ask each candidate all 100 of the most common interview questions, they provide a solid foundation and can help distinguish “cookie-cutter” answers from thoughtful and relevant ones. Interview Questions for Procurement Analysts: 1. Procurement Manager at BAT was asked... 26 Aug 2014 BAT questions were structured into 3 categories:- 1) Skills in relation to the role 2) Leadership 3) Ability to influence others in wider functions The interview was all competency based. Just as your company relies on the procurement function to build value and implement cost savings, so, too does your procurement team rely on your company’s hiring manager to find the most qualified and skilled applicants. Experience brings insight, and with it the potential for paradigm shifts that can benefit your organization with the right hire. Be specific in describing your role and functions in carrying out your duties. How a candidate answers this pair of questions offers additional insight into their specific subject matter expertise, as well as their experience with sourcing for direct and indirect spending. Answer tips Tell us about yourself According to Ms. Carolyne Kariuki, a recruitment manager at Corporate Staffing Services, the employer basically wants to know if you are the right fit for the job. Regardless, job seekers need to show they understand truly effective ways to engage with internal clients as well as external suppliers, and work together to accomplish initiatives and support both procurement and company-wide goals. You must know these Oracle Procurement Interview Questions before attending for interviews. Can they readily and confidently explain their ap… How do you manage supplier relationships? The job interview questions sample below are used to ask Procurement manager and other Procurement manager positions related. If we buy a customized product from a single source how will you know if the price is fair? As a procurement manager, what is your management style? Interview Questions for Procurement Officers: 1. But, when you are purchasing a customized product from a single source, you do not have the luxury of multiple price data points. The application process can be extremely time-consuming, so when you finally land an interview, it’s normal to stress about providing the best possible answers to common interview questions. You see, executive management uses standard financial statements as their “scorecard” for the business. Can you describe your approach to identifying potential suppliers? If you operate in the United States and purchase goods from US suppliers, you should be familiar with the UCC. If your company is interviewing applicants for higher-level positions, you may consider adding a set of “procurement manager interview questions,” focused on a candidate’s leadership style, industry knowledge, strategic and tactical capabilities, and relationship skills. In ten? Much like the question about accomplishments, this deceptively simple query can reveal how a candidate will tackle the challenges that crop up on their new job. Sector-specific experience can be useful in more senior positions. What tools do you use to keep track of progress on your projects? Negotiation Skills: 3 … Learn how your comment data is processed. Part of your response should include how suppliers are compared and awarded, specifications, which internal customers are involved, etc. It can appear useless. In answering this set of questions, the prospective employee has a chance to demonstrate their problem solving and negotiation skills, as well as their knowledge of existing tools and techniques. A little strategy and thoughtful consideration when asking common interview questions (and some not so common) can help ensure every job interview is designed to bring the brightest and best into your organization. How do you go about preparing a procurement cost-benefit analysis? Interview Questions for Procurement Specialist 1. Applicants who sit for exams from either CIPS or APICS will bring additional skills to a position and expanded knowledge on topics such as: Job interview questions are a deceptively crucial part of building a winning procurement organization—and a stronger, more successful business. "I would seek assistance from … Such teams don’t simply spring into being, however—they need to be built. Oracle Cloud Procurement Interview Questions What factors decide the declared value of carriage of a product? A well-done spend profile will reveal things like the amount of money your organization spends on each category of goods and services it purchases, the amount of money spent with each supplier, changes in spend over time, and other valuable information. PROCUREMENT MANAGER Interview Questions And Answers. The eight “rights” of logistics are the Right Product, The Right Way, The right Quantity, The right Quality, The right Place, The Right Time, The right Customer, and the right Cost. What are the Top Warehouse KPIs to Succeed? Purchasing agents buy products on behalf of their company for use or wholesale. Explore the latest questions and answers in Procurement, and find Procurement experts. Asking the right procurement interview questions can help you identify the ideal candidates to fill every position on your team of procurement professionals. Well-written contracts reduce risk by specifying exactly what will happen in the event that certain disruptive events occur. Top 50 Banking Interview Questions & Answers Top 12 Debt Collection Interview Question & Answers Top 50 Call Center Interview Questions & Answers Top 20 Manufacturing Production Interview Questions & Answers These questions touch on a prospect’s ambitions and goals, and topics such as loyalty, self-improvement, team building, and innovation. PROCUREMENT MANAGER Interview Questions And Answers. Like a big event. The procurement manager should be a detail-oriented reader. Please describe your professional Procurement experience, including the types of products and services purchased, dollar amounts involved, and your role or involvement in the development and administering of procurement bids. Questions (31) Publications (6,411) Questions related to Public Procurement. “To provide lasting value for your procurement organization, interviewees for the jobs you offer need to have relevant experience and the ability to handle the day-to-day activities of the position. It also speaks to their relationship management and interpersonal skills, and their ability to strategize cogently and capably under pressure. But, as you progress through your sourcing initiative, you will add actual dates. Question2: Which version of iProcurement saw the demise of AK Developer in Oracle iProcurement? From simple sorting and subtotals to using PivotTables, you can conduct a very thorough spend analysis using Excel alone. It is the body of law that covers the purchase and sale of goods within the US above a certain monetary threshold. Cover damages involve you collecting from your contracted supplier any premium you had to pay to another supplier to enable you to require from the contracted supplier’s failure. We reached out to MRA Global Sourcing, a supply chain management and procurement recruiting firm, to hear what questions they ask procurement job candidates and what the candidates' answers reveal about their skills and capabilities. 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A requisition is an electronic or paper document that makes an internal customer ’ s ever been either side a... Your ethical and technical understanding of procurement & Supply ( CIPS ) in... Procurement, and with it the chances of acing a procurement cost-benefit analysis this post, you also get know. Where you can reference them at the end of this post, you can use to accelerate progress your! And interpersonal skills, and other logistics an idea of key procurement metrics and how you will get asked based. Developer in Oracle iProcurement internal evaporators or from the suppliers responding to your negotiation want to a... Your approach to identifying potential suppliers a spend analysis and building a spend analysis and building a sourcing,. Not mention should be familiar with and/or certified by the Chartered Institute of and! They responded some appropriate remedies for a new supplier buying goods for your company either for use wholesale.