Procurement Specialist

Job Summary:

The Procurement Executive is responsible for managing the company's purchasing activities to ensure timely and cost-effective acquisition of goods, materials, and services. The role involves supplier management, negotiating contracts, ensuring compliance with company policies, and maintaining good relationships with vendors. The Procurement Executive plays a key role in optimizing procurement processes and controlling costs while ensuring quality standards.

Key Responsibilities:

1. Vendor Management:

Identify and assess potential suppliers based on cost, quality, and reliability.

Build and maintain strong relationships with vendors and suppliers.

Monitor supplier performance and resolve issues related to delivery, quality, or pricing.

2. Procurement Process:

Process purchase orders and ensure timely delivery of goods and services.

Collaborate with internal departments to determine purchasing needs and specifications.

Review purchase requisitions for accuracy and ensure compliance with the procurement policy.

Maintain accurate records of purchases, pricing, and other important data.

3. Negotiation:

Negotiate favorable terms, pricing, and conditions with suppliers.

Ensure contracts are complete and align with company policies and objectives.

Monitor market trends and prices to identify cost-saving opportunities.

4. Inventory Management:

Assist in managing inventory levels to prevent overstocking or stockouts.

Coordinate with warehouse and logistics teams to ensure smooth delivery and storage of goods.

5. Cost Control and Budgeting:

Monitor procurement budgets and ensure cost-effective purchasing.

Identify opportunities for reducing costs without compromising quality.

6. Compliance and Reporting:

Ensure compliance with legal, ethical, and company standards during procurement activities.

Prepare and present regular reports on procurement activities, supplier performance, and cost savings.

7. Continuous Improvement:

Evaluate and improve procurement processes to enhance efficiency and cost-effectiveness.

Stay updated with industry trends, best practices, and new technologies in procurement.

Key Skills & Competencies:

Strong negotiation and communication skills.

Excellent analytical and problem-solving abilities.

Ability to build and maintain strong relationships with suppliers and internal stakeholders.

Familiarity with procurement software and ERP systems.

Attention to detail and high level of accuracy.

Knowledge of supply chain management and procurement best practices.

Ability to work under pressure and meet deadlines.