In the new Digital Era everyone facing new innovation technologies advancing day by day. If you are attending an interview you must be given a top priority among all.

Here are the Top interview questions to the people who are attending Oracle Procurement Interviews. You must know these Oracle Procurement Interview Questions before attending for interviews.

Oracle Procurement Interview Questions

Q1) Define the term Negotiation Requirement?

Negotiation Requirement is high-level information about the suppliers responding to your negotiation. The information comes from the internal evaporators or from the suppliers.

Q2) What is the Procurement Business Unit?

The BU or Business Unit which manages, owns. Procurement business unit is responsible for the purchasing transactions generated from the purchasing document.

Q3) What is a procurement Order and justify differing types of PO’s obtainable?

Purchase Order may be a commercial document and its first official order issued by the client to the provider. Which can indicate quantities, types and the services the supplier will provide to the buyer.

There are four different categories of PO’s are available:

1. Standard Purchase Order
2. Blanket Purchase Agreement
3. Planned Purchase Order
4. Contract Purchase Agreement

Q4) What are the various document statuses involved in Oracle Purchasing?

• Frozen
• Cancelled
• Finally Closed
• Incomplete
• In-Process
• Pre-Approved
• Approved

Q5) Define Purchasing Category?

The Code accustomed to group the purchased items with similar characteristics like paints, plastics, bolts or hard drives.
For Oracle Procurement, each and every item should belong to a purchasing item category.

Q6) Payment due days if thirty days that means it will be from material receiving date or invoice date?

It totally depends on what we set up in the Payment tab window of supplier master form.

The four Options are

1. Goods Received
2. Invoice
3. Invoice Received
4. System

Q7) Describe the term Requisitioning Business Unit (BU)?

The business unit which manages and owns their requisitioning transaction.

Q8) What is Unit of Measure in Fusion Procurement?

Unit of measure is a division of quantity which approves as a standard of measurement.

Q9) Benefits of Advanced procurement Software’s?

Oracle advanced procurement software helps businesses to maintain and manage the procurement routines in their purchasing transactions and finance integrations.

Oracle advanced procurement suit helps to cuts the supply management costs.

Q10)  Impotence of cost factors in fusion Procurement?

Cost Factors offers buyers to analyze and control the added costs associated with a negotiation line.

These cost factors can be measured in two ways.

• Per-Unit Coat
• The fixed amount of line or percentage of line price

Q11)  What do you mean by “Line Attribute”?

A line attribute can be defined as unique specifications for negotiations line and particulars should provide responding to that negotiation line. It can be used to ensure all the responses submitted to the line which also includes the essential details like price offered to the line.

Q12)  What dies Supplier management do?

Supplier Management maintains all accurate and timely suppliers information.

It gathers the supplier’s details through external questionnaires and self-profile management.

It promptly alerts whenever the new information affects supplier capabilities and risks.

Q13)  Describe Risks Management in Procurement Contracts?

Risk management involves in all steps of the procurement process. Successfully execute the risk management process we should follow the below five steps.

1. First, identify the risks before implementing on Roadmap.
2. Allocations of risks to those who are responsible for which risk.
3. Diminish the possible risks or threats.
4. Use Roadmap to monitor the risks.
5. Take an action plan against the threats and opportunities

Conclusion

This is an ultimate Guide to Oracle procurement interview Questions. If you are an oracle procurement learner go through this guide to know what are the interview equations should face in a Oracle procurement interview.