Procurement Specialist

Job Purpose:

Responsible for managing procurement activities, ensuring the efficient and cost-effective acquisition of goods and services. This role involves sourcing and evaluating suppliers, negotiating contracts, maintaining procurement records, and ensuring compliance with procurement policies and regulations. The Procurement Specialist works closely with internal departments and external vendors to ensure timely delivery of goods, cost savings, and the smooth execution of procurement processes.

Responsibilities and Duties:

• Manage the procurement of goods and services, ensuring timely and cost-effective acquisition.
• Source, evaluate, and select suppliers to ensure cost efficiency and high-quality service.
• Negotiate contracts, pricing, and terms with suppliers to secure favorable terms.
• Ensure compliance with procurement policies, procedures, and regulations.
• Collaborate with internal departments to understand procurement needs and provide appropriate solutions.
• Process purchase orders, manage supplier contracts, and maintain procurement records.
• Track procurement performance, including cost control, supplier performance, and efficiency improvements.
• Monitor supplier relationships to ensure timely delivery and adherence to service standards.
• Identify procurement risks and develop strategies to mitigate potential issues.
• Support the development of procurement strategies aimed at reducing costs and improving efficiency.
• Provide reports on procurement activities, financial performance, and supplier performance.
• Prepare and maintain accurate procurement records, including supplier details, invoices, and purchase orders.
• Provide regular procurement reports, including cost analyses and order status updates, to management.
• Conduct market analysis to identify trends, pricing fluctuations, and new supplier opportunities.
• Stay updated on industry best practices, regulations, and supply chain challenges.
• Ensure all procurement records comply with audit and legal requirements.

Education:

Bachelors degree in Business Administration, Supply Chain Management, or a related field.

Experience:

4+ years of experience in procurement, purchasing, or supply chain roles.

Competencies:

• Strong knowledge of procurement processes, vendor management, and contract negotiation.
• Ability to source, evaluate, and select suppliers to ensure cost-effective and quality solutions.
• Strong analytical skills to assess supplier pricing, terms, and identify cost-saving opportunities.
• Excellent negotiation skills to secure favorable terms and pricing from suppliers.
• High attention to detail in procurement documentation, contracts, and compliance with procurement policies and regulations.
• Strong communication skills to interact effectively with internal teams, suppliers, and stakeholders.
• Ability to collaborate with cross-functional teams to meet procurement needs.