Procurement Executive

Job Summary :

The Procurement Executive is responsible for managing the companys purchasing activities to ensure the 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.

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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.

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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.

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Qualifications :

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

- 2-4 years of experience in procurement, purchasing, or supply chain management.

- Knowledge of contract law and supplier agreements is a plus.

- Certification in procurement (such as CPSM, CIPS) is preferred.