Procurement Manager

Job Description

Role Summary Procurement Manager's primary responsibility is overseeing the process of sourcing, purchasing, and managing the acquisition of goods and services for an organization. They are responsible for developing and implementing procurement strategies, negotiating contracts with suppliers, and ensuring cost-effective and timely procurement. They also manage supplier relationships, monitor inventory, and ensure compliance with company policies and regulations. Strategic Sourcing and Procurement: Developing and implementing procurement strategies: This includes identifying cost-effective suppliers, negotiating contracts, and managing the overall procurement process. Managing supplier relationships: Building and maintaining strong relationships with suppliers, evaluating their performance, and ensuring they meet the company's requirements. Negotiating contracts: Securing favorable terms and conditions with suppliers, including price, delivery, and payment terms. Monitoring inventory: Tracking inventory levels, optimizing inventory management processes, and minimizing storage costs. Ensuring compliance: Adhering to company policies, regulations, and legal requirements related to procurement. Operational Management: Sourcing and purchasing: Identifying potential suppliers, evaluating their capabilities, and selecting the best options for acquiring goods and services. Preparing and managing purchase orders: Ensuring all purchase orders are accurately prepared and properly authorized. Tracking and managing orders: Following up on orders, ensuring timely delivery, and resolving any issues that may arise. Managing contracts: Reviewing and managing existing contracts, negotiating renewals, and ensuring compliance with contract terms. Preparing reports and presentations: a nalyzing procurement data, preparing reports on spending and savings, and presenting findings to management. Collaboration and Leadership: Collaborating with internal departments: Working with other departments to understand their needs and ensure they are met through procurement. Leading procurement teams: Supervising procurement staff, providing training and development opportunities, and fostering a culture of excellence. Identifying and mitigating risks: Assessing potential risks associated with procurement, developing and implementing risk mitigation strategies, and ensuring supply chain stability.