Procurement Executive

The Procurement Executive is responsible for managing and overseeing the procurement process within the organization, ensuring the timely and cost-effective acquisition of goods and services. This role involves developing procurement strategies, negotiating with suppliers, and maintaining robust supplier relationships to enhance operational efficiency and achieve cost savings.

Key Responsibilities:

• Develop and implement procurement strategies that align with organizational goals and objectives.
• Analyze market trends and supplier performance to identify opportunities for cost savings and process enhancements.
• Forecast procurement needs and collaborate with internal stakeholders to create annual procurement plans.
• Identify, evaluate, and select suppliers based on criteria such as quality, cost, reliability, and service.
• Negotiate contracts and terms with suppliers to secure favorable conditions and pricing.
• Build and maintain strong relationships with suppliers to ensure effective communication and high performance.
• Oversee the entire procurement process, including requisitions, purchase orders, and order fulfillment.
• Ensure timely delivery of goods and services, addressing any delays or issues promptly.
• Monitor and track procurement metrics, including cost savings, order accuracy, and supplier performance.
• Draft, review, and negotiate contracts with suppliers, ensuring compliance with legal and company requirements.
• Manage contract renewals and amendments, ensuring adherence to terms and conditions.
• Maintain accurate records of contracts, agreements, and procurement activities.
• Ensure that procurement practices comply with internal policies, legal regulations, and industry standards.
• Identify and mitigate risks related to procurement, such as supply chain disruptions and vendor reliability issues.
• Conduct regular audits of procurement processes and supplier performance to ensure compliance and identify areas for improvement.
• Monitor and control procurement budgets, ensuring alignment with financial targets and constraints.
• Analyze spending patterns and implement cost-saving measures while maintaining quality and service standards.
• Provide regular reports and updates on procurement expenditures and cost-saving initiatives.
• Collaborate with various departments, including finance, operations, and logistics, to align procurement activities with organizational needs.
• Engage with internal stakeholders to understand their requirements and ensure that procurement processes meet their needs.
• Participate in cross-functional teams and projects to support organizational objectives and process improvements.
• Conduct market research to stay informed about industry trends, new products, and supplier innovations.
• Regularly assess supplier performance and provide feedback to drive continuous improvement.
• Identify and onboard new suppliers to expand the supply base and enhance procurement capabilities.
  
  

• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field.
• Minimum of 3-5 years of experience in procurement or supply chain management.
• Demonstrated success in supplier negotiation, contract management, and cost reduction.
• Strong understanding of procurement processes, market dynamics, and supplier management.
• Proficiency in procurement software and ERP systems (e.g., SAP, Oracle, Microsoft Dynamics).
• Excellent analytical skills with the ability to interpret data and make informed decisions.
• Strong negotiation and communication skills, with the ability to build and maintain effective relationships with suppliers and internal stakeholders.
• Detail-oriented with exceptional organizational and time management skills.
• Ability to work independently and as part of a team in a dynamic, fast-paced environment.