Procurement Executive

Position : Procurement Executive:

A Procurement Executive plays a critical role in managing the procurement process, maintaining financial records, and ensuring cost-effective and quality procurement. Strong negotiation skills, attention to detail, and financial acumen are essential for success in this role. Additionally, knowledge of procurement practices and basic accounting principles is required.

Job Tasks:

1. Procurement Management:

- Source, negotiate, and procure goods, materials, and services required for the organization's operations.

- Develop and maintain relationships with suppliers and vendors to ensure timely and cost-effective procurement.

2. Cost Cutting:

- Identify opportunities for cost reduction in the procurement process while maintaining quality standards.

- Implement cost-cutting strategies to optimize expenses.

3. Vendor Management:

- Manage and evaluate vendor performance, including quality, delivery, and pricing.

- Identify and onboard new vendors when necessary to diversify supplier options.

4. Quality Procurement at Low Cost:

- Balance quality and cost considerations to ensure the organization procures high-quality goods and services at competitive prices.

- Conduct quality checks and audits on procured items.

5. Accounts Management:

- Maintain accurate financial records, including payables and receivables.

- Ensure that all financial transactions are properly documented and accounted for.

6. Invoicing:

- Generate and send invoices to clients promptly and accurately.

- Follow up on pending payments and manage the accounts receivable process.

7. Expense Management:

- Record and categorize all expenses related to procurement activities and projects.

- Ensure expenses are within budget and project cost constraints.

8. Financial Reporting:

- Prepare financial reports and statements related to procurement and accounts for management review.

- Provide insights and analysis on financial data to support decision-making.

Competency Attributes:

1. Negotiation Skills:

- Strong negotiation skills to secure favorable terms and pricing from suppliers.

2. Attention to Detail:

- Meticulous attention to detail in financial record-keeping and procurement processes.

3. Vendor Relationship Management:

- Ability to build and maintain positive relationships with vendors and suppliers.

4. Financial Acumen:

- Proficiency in financial management, including budgeting, expense tracking, and financial reporting.

Knowledge:

1. Procurement Practices:

- Understanding of procurement best practices and principles.

2. Accounting Principles:

- Knowledge of basic accounting principles and financial reporting.

Skills:

1. Cost Analysis:

- Skill in analyzing costs and identifying cost-saving opportunities.

2. Vendor Evaluation:

- Ability to assess and evaluate vendor performance and quality of goods or services.

3. Software Proficiency:

- Proficiency in accounting software and procurement tools for efficient management.

- Proficiency in Microsoft Excel for data analysis, financial modeling, and reporting.

4. Communication:

- Effective communication skills to negotiate with vendors, interact with clients, and collaborate with team members.

5. Problem Solving:

- Strong problem-solving skills to address procurement and financial challenges.

6. Organization:

- Excellent organizational skills to manage procurement processes and financial records effectively.

7. Compliance:

- Knowledge of procurement regulations and compliance requirements.

Job Types: Full-time, Permanent, Fresher

Pay: ₹15,000.00 - ₹25,000.00 per month

Benefits:

• Cell phone reimbursement
• Provident Fund

Ability to commute/relocate:

• JP Nagar, Bengaluru, Karnataka: Reliably commute or planning to relocate before starting work (Preferred)

Application Question(s):

• Currently CTC?

Experience:

• Procurement management: 1 year (Preferred)

Work Location: In person