Procurement Specialist (225-1014)

A Procurement Specialist plays a pivotal role in managing a company's purchasing activities, ensuring that all procurement operations are efficient and cost-effective. This position is crucial for maintaining a steady supply of goods and services essential for the organization’s operations. The Procurement Specialist is responsible for developing procurement strategies, negotiating with suppliers, and ensuring compliance with organizational policies and statutory regulations. This role involves collaborating with various departments to forecast the company's needs and establish cost-effective solutions. A successful Procurement Specialist will have a keen eye for market trends and economic shifts, ensuring the company gets maximum value for its expenditures while maintaining quality standards.

Responsibilities

• Develop and implement effective procurement strategies aligned with company goals.
• Conduct market research to understand current industry trends and suppliers.
• Negotiate contract terms, pricing, and payment to ensure cost-efficient sourcing.
• Build and maintain strong relationships with preferred suppliers and vendors.
• Analyze purchasing patterns to identify potential cost-saving opportunities.
• Monitor inventory levels to prevent shortages and overstock situations.
• Ensure compliance with legal, regulatory, and corporate policies on procurement.
• Collaborate with internal departments to assess and meet their procurement needs.
• Develop and track key performance metrics to evaluate procurement efficiency.
• Prepare reports and forecasts to assist in strategic decision-making processes.
• Manage procurement documentation and maintain accurate records for audit purposes.
• Provide guidance and training on procurement practices to junior staff.

Requirements

• Bachelor’s degree in Business Administration, Supply Chain or related field expected.
• Minimum of three years' demonstrated experience in a procurement role required.
• Strong negotiation skills with a proven track record of successful supplier agreements.
• Exceptional analytical skills with keen attention to detail and accuracy.
• Excellent communication skills, both verbal and written, to facilitate vendor discussions.
• In-depth understanding of market dynamics and procurement best practices.
• Proficiency in procurement software and Microsoft Office Suite highly desirable.