Kanchipuram Lakshaya Silks

Procurement Executive Role Definition Managing the procurement process within an organization which involves acquisition of goods and services, develops procurement strategies by monitoring inventory movement. responsible for driving operational excellence, achieving cost savings, and ensuring compliance with procurement regulations and ethical standards. Responsibility Deliverables Management of Inventories Management of Vendors Improve procurement knowledge and skills to grow as a Business Development Manager Task and Activity Management of Inventories Predicting customer demand for products to ensure adequate stock levels while minimizing overstocking. Monitoring inventory levels, reorder points, and safety stock to prevent stockouts and optimize inventory investment. Efficiently storing and handling inventory, including Layout, inventory organization, and stock rotation. Determining the value of inventory for financial reporting and decision-making, using methods like FIFO (First-In, First-Out) or LIFO (Last-In, First-Out). Managing the process of reordering inventory when stock levels reach a predetermined level, considering factors like lead times and supplier reliability. Striking a balance between holding sufficient inventory to meet demand and minimizing inventory costs, using techniques like ABC analysis and safety stock calculations. Utilizing software and technology to automate and streamline inventory management processes, providing real-time visibility and control over inventory levels. Stock Report Periodically Management of Suppliers Identifying and evaluating potential suppliers based on factors such as quality, reliability, cost, and sustainability. Continuously assessing supplier performance against agreed-upon metrics, identifying areas for improvement, and taking corrective actions if necessary. Building and maintaining positive relationships with suppliers through effective communication, collaboration, and problem-solving. Identifying and mitigating potential risks associated with suppliers, such as supply disruptions, quality issues, or financial instability. Improve knowledge and skills to grow as a Business Development Manager Team Management Skills Improve strategies on Inventory management and supplier management Measurement Metrics Inventory Report - 3 Months Once performance of suppliers based on various metrics such as on-time delivery, quality compliance, cost-effectiveness, and adherence to contractual terms. They help identify top-performing suppliers and areas where improvements are needed. They may include data on the time taken for different stages of the procurement cycle, such as requisitioning, sourcing, contracting, and order fulfilment. By identifying bottlenecks and inefficiencies, these reports help optimize the procurement process. Procurement Quality Report Spend Analysis Reports: Cost Savings Report: This report quantifies cost savings achieved through procurement activities, such as price negotiations, volume discounts, or process improvements. It helps demonstrate the value generated by the procurement team and supports financial reporting. Cost Avoidance Report: This report captures the cost avoidance achieved by making proactive decisions, such as identifying alternative suppliers or avoiding unnecessary purchases. It helps showcase the proactive measures taken by the procurement team to manage costs. Supplier Performance Feedback Reports: Job Types: Full-time, Permanent, Fresher Pay: ₹12,042.08 - ₹30,934.68 per month Benefits: Cell phone reimbursement Paid time off Provident Fund Work Location: In person