Procurement Specialist (225-731)

A Procurement Specialist is a crucial member of an organization, responsible for managing the sourcing and purchasing processes to ensure the company’s needs are efficiently met. This role involves conducting market research, creating procurement strategies, representing the organization in negotiations with suppliers, and managing contracts. A Procurement Specialist must have a keen understanding of the industry trends, supplier markets, and product lifecycles. This role requires excellent analytical capabilities, strong communication skills, and an ability to work collaboratively across different departments. A successful Procurement Specialist will ensure cost-effective procurement strategies that enhance business operations and align with the company’s overall goals.

Responsibilities

• Develop and implement procurement strategies that are inventive and cost-effective for business needs.
• Identify potential suppliers and maintain constructive relationships by evaluating performance and reliability.
• Negotiate contracts and terms of supply with vendors and ensure that agreements adhere to company policies.
• Analyze industry trends and market conditions to anticipate product availability and changes in pricing.
• Monitor inventory levels and determine purchasing needs in collaboration with department heads.
• Prepare reports on purchases, including cost analyses and performance metrics of supplier agreements.
• Coordinate with other departments to understand their material or service needs and adjust sourcing strategies.
• Review and process purchase orders in a timely manner ensuring all information is accurate and complete.
• Act as a liaison between suppliers and the organization to ensure timely delivery and solve any issues that arise.
• Ensure compliance with all regulatory requirements during the procurement process and within contracts.
• Manage procurement budget and ensure alignment with the department’s financial constraints and objectives.
• Research and evaluate new vendors to identify opportunities for long-term savings and improved service levels.

Requirements

• Bachelor’s degree in supply chain management, business administration, or a related field required.
• Proven experience as a procurement specialist or in a similar analytical position.
• Strong negotiation skills with a track record of successful contract management and supplier coordination.
• Comprehensive understanding of procurement processes, policies, and best practices.
• Proficiency in Microsoft Office Suite and procurement management software systems.
• Excellent communication and interpersonal skills to liaise effectively with team members, management, and suppliers.
• Strong analytical and problem-solving skills, with attention to detail and ability to manage multiple tasks.