Procurement Specialist (225-1015)

A Procurement Specialist plays a crucial role in an organization by managing the acquisition of products and services. This position is responsible for ensuring that essential materials and services are obtained efficiently, economically, and in adherence to company policies. The role involves conducting research, evaluating potential suppliers, negotiating contracts, and maintaining a strong relationship with current vendors. The Procurement Specialist also plays a significant part in managing inventory, analyzing market trends, and ensuring the cost-effectiveness of procurement processes. It is a multidimensional role that demands exemplary analytical skills, attention to detail, and a deep understanding of market dynamics.

Responsibilities

• Develop and implement strategies for procuring, storing, and distributing goods and services.
• Negotiate contracts and agreements with suppliers to secure favorable terms and conditions.
• Evaluate supplier performance based on quality, delivery, and price competitiveness.
• Maintain and update procurement records, including purchase orders, inventory, and supplier information.
• Collaborate with cross-functional teams to forecast the needs and manage the supply chain efficiently.
• Conduct market research to identify trends and potential suppliers for upcoming projects.
• Ensure compliance with the organization’s procurement policies and procedures at all stages.
• Manage and resolve any issues relating to suppliers, contracts, or unexpected cost changes.
• Develop risk management strategies related to sourcing and procurement activities.
• Analyze the financial reports and cost structures to optimize the procurement process.
• Engage in continuous improvement initiatives to enhance the procurement system.
• Train and oversee procurement staff to ensure company standards are consistently met.

Requirements

• Bachelor's degree in supply chain management, business administration, or a related field.
• A minimum of 3-5 years of experience in procurement or supply chain management.
• Strong analytical skills, with the ability to analyze and interpret market data.
• Excellent negotiation skills and a track record of successful contract negotiations.
• Proficient in procurement software and Microsoft Office Suite, especially Excel.
• Ability to work collaboratively with diverse teams across various departments.
• Excellent communication and interpersonal skills to liaise with suppliers and internal stakeholders.