Purchase Executive (225-729)

The role of a Purchase Executive is crucial in managing the procurement functions within an organization. This position demands a vigilant eye for detail and the capacity to make strategic decisions that align with the company's goals. A Purchase Executive plays a significant role in negotiating deals, establishing vendor relationships, and ensuring cost-effective procurement of goods and services. They work collaboratively with various departments to meet the organization's operational needs efficiently and effectively. This includes evaluating suppliers, conducting market research, and coordinating with the finance team to ensure timely payments. As the key mediator between the organization and suppliers, the Purchase Executive ensures that quality products are procured at the best possible prices. Their role supports the overall supply chain process, enhances profitability, and contributes to the smooth running of the business.

Responsibilities

• Identify and source new suppliers based on the company’s procurement requirements.
• Negotiate contracts and terms of service with vendors to secure optimal agreements.
• Maintain thorough records of purchases, pricing, and other key procurement data.
• Review product quality and vendor performance regularly to reinforce high standards.
• Collaborate with internal teams to understand procurement needs and order specifications.
• Ensure the timely delivery of goods and services as per the company’s schedule.
• Monitor inventory levels to predict and react appropriately to supply shortages.
• Prepare detailed purchase reports and summaries for management review.
• Analyze market trends to forecast purchasing trends and preempt cost inflation.
• Develop and implement purchase strategies that align with corporate objectives.
• Assist in budget preparation and control by managing procurement expenditures effectively.
• Ensure compliance with company policies, regulatory requirements, and ethical standards.

Requirements

• Bachelor’s degree in Business Administration, Supply Chain Management, or related field.
• Proven experience as a Purchase Executive or in a similar procurement role.
• Strong negotiation and interpersonal skills for dealing with diverse suppliers.
• Exceptional organizational skills and the ability to manage multiple priorities.
• Familiarity with sourcing and vendor management and relevant software applications.
• Analytical skills for interpreting purchasing data and predicting market trends.
• Excellent communication skills, both written and verbal, for effective collaboration.