Procurement Specialist 18F26

The Procurement Specialist plays a crucial role in ensuring that an organization acquires the necessary goods and services efficiently and cost-effectively. This professional is responsible for managing the procurement process, from identifying necessary products and services, evaluating suppliers, to negotiating contracts that best fulfill the company’s strategic objectives. They work closely with other departments to understand purchasing needs, maintain and nurture vendor relationships, and ensure compliance with procurement policies. The Procurement Specialist must be highly organized, possess strong communication and negotiation skills, and have a keen eye for detail to ensure procurement activities align with the company’s financial plans. Their role significantly impacts the organization's ability to achieve its operational goals and maintain competitiveness in its industry.

Responsibilities

• Identify organization's needs and ensure timely acquisition of goods and services.
• Develop and implement procurement strategies to optimize costs and quality.
• Conduct market research to identify potential suppliers and analyze trends.
• Evaluate and select suppliers based on performance and cost-effectiveness criteria.
• Negotiate contracts with suppliers to secure favorable terms and conditions.
• Maintain and manage relationships with existing and potential vendors.
• Ensure compliance with company policies and government regulations in procurements.
• Collaborate with finance and other departments to manage budgets effectively.
• Monitor inventory levels and coordinate with warehouse to prevent shortages.
• Prepare reports on purchasing activities, costs, and supplier performance.
• Identify and mitigate risks associated with procurement processes.
• Continuously seek opportunities for process improvements and cost savings.

Requirements

• Bachelor’s degree in Business Administration, Supply Chain Management, or related field.
• Proven experience as a Procurement Specialist or in a similar role.
• Strong understanding of procurement processes, policies, and best practices.
• Excellent negotiation and contract management skills are essential.
• Proficient in using procurement software and other relevant technologies.
• Exceptional analytical, communication, and interpersonal skills required.
• Ability to work under pressure and meet tight deadlines effectively.
• Detail-oriented with strong organizational and problem-solving abilities.
• Knowledge of market research and data analysis to support procurement decisions.