I agree with Lestat. I think they are looking for examples where a company policy or company standard operating procedure impeded your ability to do your job.
... be careful here. Don't seem flippant about policies and procedures (i.e. saying "Naw, I don't let any policy get in the way of getting my job done). But also don't seem like a slave to company policies. My guess is they are trying to guage your "follow the rules" instincts.
Also, they are probably trying to catch anti-system bitchers (i.e. "Well, when I was with IBM there was so much red tape bullshit policy I couldn't get anything done"). So be careful about complaining. Maybe even mention that you've always been fortunate enough to have employers who established policies that *helped* you get work done -- not impeded you.
Remember that an application is a beauty contest. So if you need to duct tape your titties together or superglue your eyelashes on for the show, go with it.