Procurement Executive

Position Summary: The Procurement Buyer/Specialist is responsible for executing purchasing activities to acquire materials, supplies, and services required for the company’s operations. This role involves sourcing suppliers, negotiating terms, managing purchase orders, and ensuring that procurement processes are efficient and cost-effective. The Procurement Buyer/Specialist plays a key role in maintaining the supply chain, managing inventory levels, and supporting the company’s operational and strategic objectives.

Key Responsibilities:

1. Sourcing and Supplier Management:

· Identify Suppliers: Source and evaluate potential suppliers for quality, reliability, and cost-effectiveness.

· Supplier Negotiations: Negotiate prices, terms, and conditions with suppliers to secure favorable agreements.

· Supplier Performance: Monitor and assess supplier performance to ensure compliance with contractual agreements and quality standards.

2. Purchase Order Management:

· Order Placement: Create, review, and place purchase orders in accordance with company policies and requirements.

· Order Tracking: Track the status of purchase orders to ensure timely delivery and address any issues that arise during the procurement process.

· Issue Resolution: Resolve discrepancies or issues related to orders, including quality problems or delivery delays.

3. Inventory and Stock Management:

· Monitor Inventory Levels: Track inventory levels and collaborate with the warehouse team to ensure that stock levels meet production needs.

· Reorder Materials: Initiate and manage reorders to prevent stockouts and ensure continuous supply.

4. Cost Management and Budget Adherence:

· Cost Analysis: Analyze costs and market trends to identify opportunities for cost savings and process improvements.

· Budget Compliance: Ensure procurement activities stay within budgetary constraints and contribute to cost-saving initiatives.

3. Documentation and Compliance:

· Maintain Records: Keep accurate records of purchase orders, supplier communications, and procurement activities.

· Ensure Compliance: Adhere to company policies, legal requirements, and industry standards in all procurement activities.

4. Reporting and Analysis:

· Generate Reports: Prepare and present reports on procurement activities, supplier performance, and cost analysis.

· Data Analysis: Analyze procurement data to identify trends, opportunities for improvement, and support decision-making.

5. Cross-functional Collaboration:

· Coordinate with Teams: Work closely with production, finance, and other departments to understand their procurement needs and provide support.

· Support Projects: Assist in procurement-related projects and initiatives, such as new product introductions or facility upgrades.

Qualifications:

· Bachelor’s degree in Supply Chain Management, Business Administration, or a related field.

· Proven experience (typically 2-5 years) in procurement, purchasing, or supply chain management.

· Knowledge of procurement processes, inventory management, and supplier relations.

· Strong negotiation, analytical, and communication skills.

· Proficiency in procurement software and Microsoft Office Suite.

· Attention to detail and ability to manage multiple tasks simultaneously.

Key Result Areas (KRA)

1. Order Accuracy and Timeliness:

· Metric: Percentage of purchase orders processed accurately and delivered on time.

· Target: Achieve a 98% accuracy rate and on-time delivery rate for purchase orders.

2. Cost Savings:

· Metric: Total cost savings achieved through negotiations and strategic sourcing.

· Target: Achieve a minimum of 3-5% cost savings on key purchases.

3. Supplier Performance:

· Metric: Supplier performance metrics, including delivery reliability and quality.

· Target: Maintain supplier performance above 95% for on-time deliveries and quality standards.

4. Inventory Management:

· Metric: Accuracy of inventory records and effectiveness in managing stock levels.

· Target: Ensure inventory accuracy of 99% and reduce stockouts or excess inventory situations.

5. Documentation and Compliance:

· Metric: Accuracy and completeness of procurement documentation and adherence to compliance standards.

· Target: Maintain 100% compliance with procurement policies and ensure complete and accurate documentation.

6. Reporting and Analysis:

· Metric: Timeliness and accuracy of procurement reports and data analysis.

· Target: Ensure timely submission of reports and provide actionable insights for decision-making.

7. Cross-functional Support:

· Metric: Effectiveness of collaboration with other departments and satisfaction with procurement support.

· Target: Achieve high satisfaction ratings from internal teams and effectively support their procurement needs.

8. Process Improvement:

· Metric: Number and impact of process improvements implemented.

· Target: Support and contribute to at least 2 process improvements per year to enhance procurement efficiency.

Job Type: Full-time

Pay: ₹25,000.00 - ₹60,000.00 per month

Experience:

• total work: 5 years (Preferred)

Work Location: In person