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Procurement Specialist

Procurement Specialist

IBM

3 - 6 years

5 - 9 Lacs

bengaluru

Posted:1 day ago| Platform:

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Skills Required

procurement insurance time management skills erp sap oracle time management accounting market research research banking erp systems accounting systems compliance compliance monitoring onboarding rfq data entry rfp

Work Mode

Work from Office

Job Type

Full Time

Job Description

o Review and process purchase requisitions, ensuring compliance with company policies and budgets.o Source suppliers, obtain quotes, and prepare purchase orders (POs) for approval.o Verify vendor invoices against POs and goods receipts using 2/3-way matching to identify discrepancies.o Enter invoice data accurately into ERP/ accounting systems and code expenses to appropriate accounts.o Resolve invoice queries with vendors and internal stakeholders, escalating complex issues as needed.o Monitor accounts payable aging reports and follow up on overdue payments to optimize cash flow.o Maintain vendor master data, including onboarding new suppliers and updating records.o Support month-end close by reconciling accounts and preparing accrual reports.o Assist in ad-hoc procurement projects, such as cost-saving initiatives or supplier audits.o Generate reports on KPIs like invoice processing time, payment accuracy, and savings achievedo Negotiate contracts, pricing, and terms with vendors to achieve savings and favorable conditions.o Maintain supplier relationships, conduct performance reviews, and ensure compliance with policieso Tactical SourcingConduct market research and solicit quotes (RFQ/RFP) for indirect spend categories (e.g., office supplies, MRO, professional services).o Supplier OnboardingCoordinate the collection of vendor documentation, including W-9/W-8BENs, banking details, and certificates of insurance (COI).o Compliance MonitoringEnsure all procurement activities adhere to the company??s Global Authorization Matrix and Ethical Sourcing policies.o ReportingGenerate month-end accrual reports to ensure all uninvoiced liabilities are captured for the Accounting team.

Required education

Master''s Degree

Required technical and professional expertise

1-Strong proficiency in MS Excel (VLOOKUP, pivot tables) and ERP systems (SAP, Oracle).2-Excellent attention to detail and accuracy in high-volume data entry.3-Solid organizational and time-management skills to handle deadlines.4-Effective communication for vendor interactions and cross-functional collaboration.5-Analytical mindset for discrepancy resolution and basic reporting.6-Adaptability to learn new tools and processes in a fast-paced environment.

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Procurement Specialist