Purchase Executive (225-905)

The Purchase Executive plays a vital role in managing procurement activities within an organization to ensure cost-effective purchasing and inventory management. This professional is responsible for identifying vendor sources, negotiating contracts, setting purchasing terms, and ensuring a reliable supply chain. A Purchase Executive works closely with suppliers, vendors, and internal departments to monitor order quantities and stock levels, ensuring that no interruption occurs in business operations. This position demands a keen eye for detail, strong negotiation skills, and the ability to analyze market trends to make informed purchasing decisions. As a Purchase Executive, the individual will also manage relationships with suppliers to ensure that high-quality goods are obtained at a fair price while maintaining an efficient level of inventory that aligns with company needs and standards.

Responsibilities

• Develop and implement effective procurement strategies for achieving cost efficiency.
• Identify potential suppliers and evaluate their capabilities and reliability.
• Negotiate terms, prices, and contracts with suppliers for favorable procurement deals.
• Coordinate with the finance department to ensure timely payment to vendors.
• Monitor inventory levels and order quantities to prevent stockouts or overstocking.
• Conduct market research and analysis to stay updated on price trends and products.
• Manage supplier relationships to ensure continuous supply of goods and services.
• Prepare, review, and process purchase orders and purchase requisitions.
• Ensure compliance with organizational procurement policies and procedures.
• Resolve procurement-related issues such as delivery delays, defects, or shortages.
• Collaborate with internal departments to determine procurement needs and requirements.
• Evaluate and improve purchasing processes to optimize efficiency and performance.

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 skills with experience in supplier contract management.
• Excellent analytical skills with the ability to analyze data and market trends.
• Proficiency in using procurement software and Microsoft Office Suite.
• Good communication skills to effectively interact with vendors and internal teams.
• Strong organizational skills with the ability to manage multiple tasks simultaneously.
• Knowledge of relevant laws and regulations pertaining to procurement activities.