Purchase Officer

Role Description

a. Developing and implementing procurement strategies and policies for cost optimisation and effective supply of goods and services.

1. Identifying, evaluating, and selecting suppliers based on quality, reliability, cost-effectiveness and adherence to ethical and sustainability standards.
2. Negotiating contracts and terms with suppliers to ensure favourable pricing, payment terms and mutually beneficial agreements.
3. Collaborating with internal stakeholders to understand their needs and align procurement activities with those needs and organisational goals.
4. Conducting market research and analysis to stay updated on industry trends, supplier capabilities and pricing fluctuations.
5. Managing supplier relationships, including regular communication, ongoing performance evaluation, issue resolution and fostering long-term partnerships.
6. Monitoring inventory levels, analysing demand / consumption patterns and implementing inventory management strategies to optimise stock levels and avoid shortages or excesses.
7. Preparing and presenting reports on procurement activities, performance metrics and cost savings to leadership team.
8. Ensuring compliance with the regulatory requirements and internal guideline

REQUIRED SKILLS AND QUALIFICATION

a. Bachelors / Master’s degree in supply chain management, business administration, or a related field.

b. 4-6 yrs of experience as a Purchase Officer within India, familiarity with local suppliers and sourcing channels.

c. Knowledge of procurement principles, strategies and best practices.

d. Strong skills in budgeting, cost optimisation, negotiation, vendor management, and inventory management

e. Strong on analytical and detail-orientation.

f. Ability to communicate effectively and work collaboratively.

g. Proficiency in using procurement software and systems.

h. Knowledge of laws, regulations and best practices in procurement.