Job Description

Job Summary: The Procurement Specialist is responsible for managing the end-to-end procurement process, from sourcing suppliers to negotiating contracts and ensuring timely delivery of goods and services. This role involves analyzing market trends, maintaining supplier relationships, and working closely with internal departments to meet the companys procurement needs while optimizing cost, quality, and delivery.

Key Responsibilities:

1. Supplier Sourcing and Management:
   • Identify and evaluate potential suppliers based on quality, cost, and reliability.
   • Develop and maintain strong relationships with existing and new suppliers to ensure effective collaboration.
   • Conduct supplier performance evaluations and implement improvement plans where necessary.
2. Contract Negotiation and Management:
   • Negotiate contracts and pricing agreements with suppliers to secure favorable terms.
   • Ensure contracts comply with legal requirements and company policies.
   • Manage contract renewals and address any contract-related issues.
3. Purchase Order Management:
   • Prepare and issue purchase orders (POs) in accordance with procurement policies.
   • Track the status of orders to ensure timely delivery and resolve any discrepancies.
   • Coordinate with suppliers and internal teams to handle changes in order specifications or delivery schedules.
4. Cost Analysis and Control:
   • Analyze procurement costs and identify opportunities for cost savings.
   • Monitor budget adherence and assist in forecasting future procurement needs.
   • Implement cost reduction strategies without compromising on quality or delivery times.
5. Inventory Management Support:
   • Collaborate with inventory control teams to manage stock levels and avoid shortages or excess inventory.
   • Assist in conducting regular inventory audits and reconciling discrepancies.
6. Market Research and Analysis:
   • Conduct market research to stay informed about industry trends, pricing, and availability of goods and services.
   • Provide insights and recommendations based on market analysis to support procurement decisions.
7. Compliance and Risk Management:
   • Ensure all procurement activities comply with company policies, ethical standards, and legal requirements.
   • Identify and mitigate risks associated with the procurement process, including supplier reliability and supply chain disruptions.
8. Cross-Functional Collaboration:
   • Work closely with internal departments such as finance, production, and logistics to ensure procurement aligns with overall business objectives.
   • Participate in cross-functional teams to address procurement-related challenges and support company projects.
9. Documentation and Reporting:
   • Maintain accurate and up-to-date records of all procurement activities, including POs, contracts, and supplier performance.
   • Prepare regular reports on procurement performance, cost savings, and supplier metrics.

Qualifications:

• Education: Bachelors degree in Business Administration, Supply Chain Management, or a related field.
• Experience: 3-5 years of experience in procurement, sourcing, or supply chain management.

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