Procurement Executive 05D25

A Procurement Executive plays a crucial role in an organization, responsible for ensuring that goods and services are sourced efficiently and cost-effectively. The role demands an in-depth understanding of procurement processes, market trends, and supplier management. A successful Procurement Executive ensures that all acquisitions adhere to quality standards and budget constraints while maintaining robust relations with vendors. The position often involves negotiation, contract management, and collaboration with various departments to align purchasing strategies with business goals. As companies strive for competitive advantages, a skilled Procurement Executive becomes instrumental in optimizing supply chain performance and minimizing risks associated with procurement practices.

Responsibilities

• Develop and implement procurement strategies aligned with company objectives and budget.
• Identify and establish relationships with reliable suppliers and negotiate favorable terms.
• Review and assess supplier proposals, quality, and delivery times to ensure suitability.
• Monitor the procurement process to ensure compliance with company policies and regulations.
• Analyze market trends to identify risks and opportunities in the supply chain.
• Work collaboratively with other departments to forecast procurement needs and plan orders accordingly.
• Prepare detailed purchasing reports to assist management with strategic decisions.
• Maintain an updated record of suppliers, products, and market conditions.
• Resolve vendor grievances and claims against suppliers to maintain smooth operations.
• Oversee the evaluation of bids, contract negotiation, and management of the procurement cycle.
• Ensure all purchased goods and services meet the required quality standards.
• Continuously seek improvements in procurement processes to optimize efficiency and reduce costs.

Requirements

• Bachelor's degree in Business Administration, Supply Chain Management, or a related field.
• Proven experience as a Procurement Executive or in a similar role.
• Strong negotiation and interpersonal skills to manage vendor relationships effectively.
• Excellent understanding of supply chain management processes and market dynamics.
• Proficiency in procurement software systems and Microsoft Office Suite.
• Strong analytical skills and attention to detail in reviewing contracts and proposals.
• Ability to work under pressure and make decisions in a fast-paced environment.