Procurement Executive 23N25

A Procurement Executive plays a crucial role within an organization, ensuring that goods and services are sourced effectively and efficiently to meet business objectives. They are responsible for developing and maintaining vendor relationships, negotiating contracts, and ensuring cost-effectiveness and quality in procurement processes. This role requires a thorough understanding of procurement principles, strong analytical skills, and the ability to collaborate with multiple departments to meet organizational needs. The ideal candidate for the Procurement Executive position will have a keen eye for detail, strategic thinking capabilities, and excellent negotiation skills, enabling them to contribute significantly to the overall success and cost savings of the company. The role demands a proactive approach, keeping up with market trends, and ensuring compliance with industry standards and regulations.

Responsibilities

• Develop and maintain strong relationships with suppliers to enhance service delivery.
• Negotiate contracts and agreements to ensure favorable terms and conditions.
• Identify potential suppliers, conduct market research, and assess offerings and pricing.
• Manage the procurement process to ensure timely and cost-effective acquisition of goods.
• Create and implement strategies for procurement that optimize processes and cost savings.
• Coordinate with cross-functional teams to understand and fulfill procurement needs effectively.
• Monitor supplier performance and evaluate service and compliance with contracts.
• Ensure adherence to company procurement policies and applicable legal requirements.
• Prepare and maintain procurement records, reports, and price lists accurately and up-to-date.
• Develop risk management strategies associated with the procurement of goods and services.
• Analyze market trends and insights to identify opportunities for cost savings.
• Collaborate with the finance team to forecast procurement budgets accurately.

Requirements

• Proven experience in procurement or supply chain management roles.
• Bachelor’s degree in Business Administration, Supply Chain Management, or a related field.
• Strong negotiation and communication skills for effective supplier management.
• Ability to analyze data and generate procurement strategies based on insights.
• Proficiency in procurement software and Microsoft Office Suite applications.
• Strong organizational skills with the ability to handle multiple priorities effectively.
• Knowledge of contract law and applicable industry regulations will be an advantage.