Purchase Executive

As a Procurement Strategy Specialist, you will be responsible for developing and executing procurement strategies aligned with objectives, considering cost, quality, supplier performance, and risk. Your role will involve formulating and implementing procurement strategies, budgeting and planning funds for procurement, and collaborating with key stakeholders to understand procurement needs and priorities. Key Responsibilities: - Develop and execute procurement strategies aligned with objectives, considering cost, quality, supplier performance, and risk. - Formulate and implement procurement strategy by developing/modifying strategy for purchase and establishing methods to achieve project targets. - Budget and plan funds for procurement and sourcing of materials ensuring optimum utilization, cost savings, and meeting anticipatory orders. - Collaborate with key stakeholders to understand procurement needs and priorities. - Evaluate and identify cost-saving opportunities while maintaining quality standards. - Assess vendor performance based on various criterions such as rejection percentage, quality improvement rate, timely delivery, and credit terms. - Identify, evaluate, and maintain relationships with suppliers and vendors. - Lead supplier negotiations for favorable terms and pricing. - Implement and enhance procurement policies and procedures to ensure efficiency and compliance. - Monitor and analyze procurement data to identify trends, opportunities for improvement, and areas of cost reduction. - Manage operations ensuring optimum inventory levels for maximum cost savings without hampering operations. - Prepare MIS reports and work orders of inward/outward logistics to appraise top management and users of routine inventory management activities. - Monitor incoming materials supplied by vendors, check product costing, inventory recording, and ensure they meet quality & quantity specifications. - Ensure compliance with relevant laws, regulations, and company policies. - Maintain documentation related to procurement activities. Additional Company Details: The company values effective communication, self-confidence, energy, enthusiasm, conflict management, timely information sharing, time management, organizational skills, concise presentation of ideas, problem-solving methodology for decision-making, and proactive communication through calls when necessary.,