Procurement Analyst (225-731)

A Procurement Analyst is a skilled professional responsible for analyzing the procurement process within a company to increase efficiency and cost-effectiveness. This involves the review and analysis of suppliers, goods, services, and purchasing practices within the organization. The Procurement Analyst's primary goal is to use data to identify better opportunities to enhance the company’s procurement procedures. This role requires excellent analytical skills to interpret contract details and negotiate prices. Additionally, understanding market trends and maintaining positive supplier relationships are crucial. This role often involves collaborating with various departments to ensure compliance with the organization's procurement policies and strategies, making it essential to possess excellent communication and negotiation skills.

Responsibilities

• Analyze current procurement processes to identify cost-saving opportunities and efficiency improvements.
• Assess supplier performance and compliance with company standards to ensure high-quality service.
• Collaborate with internal departments to align procurement strategies with company goals.
• Review market trends to determine the best-available options for procurement and sourcing.
• Negotiate with vendors to acquire favorable contract terms and pricing agreements.
• Develop procurement strategies that align with the operational goals and financial objectives.
• Monitor and manage supplier relationships to mitigate risk and ensure continuity of supply.
• Prepare and present detailed procurement reports and analyses for the management team.
• Conduct spend analysis to assist in budget planning and financial management.
• Ensure compliance with industry regulations and internal procurement policies at all times.
• Implement best practices in procurement to improve processes and provide recommendations.
• Maintain a procurement database to track spending, supplier performance, and contractual agreements.

Requirements

• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field.
• Minimum of 3 years’ experience in procurement or a related role in a corporate setting.
• Strong analytical skills and proficiency in analytical tools such as Excel or SAP.
• Excellent communication and negotiation skills to manage supplier relationships effectively.
• Proven ability to analyze complex data sets and provide actionable insights for decision-making.
• Knowledge of procurement laws, regulations, and best practices to ensure compliance.
• Ability to work independently, manage multiple priorities, and meet deadlines in a fast-paced environment.