Purchase Manager
Key Responsibilities:
Strategic Sourcing:- Develop and implement procurement strategies to meet the organization's needs and objectives.
- Identify potential suppliers and conduct market research to assess their capabilities, pricing, and quality of products or services.
Supplier Management:- Establish and maintain relationships with suppliers, negotiating contracts, terms, and pricing agreements.
- Evaluate supplier performance and conduct regular vendor assessments to ensure adherence to quality standards, delivery schedules, and cost targets.
Procurement Process:- Manage the end-to-end procurement process, including requisition processing, purchase order issuance, and invoice reconciliation.
- Ensure compliance with procurement policies, procedures, and regulations throughout the procurement lifecycle.
Cost Management:- Optimize procurement costs by negotiating favorable terms, bulk discounts, and volume pricing agreements with suppliers.
- Monitor market trends and economic factors to identify cost-saving opportunities and mitigate risks related to price fluctuations.
Inventory Control:- Coordinate with inventory management teams to ensure adequate stock levels and minimize excess inventory or stockouts.
- Implement inventory control measures to track and manage inventory levels efficiently.
Quality Assurance:- Collaborate with quality control teams to ensure that purchased goods and services meet quality specifications and standards.
- Address any quality issues or discrepancies with suppliers and take corrective actions as necessary.
Contract Management:- Draft, review, and negotiate procurement contracts, including terms and conditions, service level agreements (SLAs), and warranties.
- Monitor contract performance and compliance to ensure that both parties fulfill their obligations.
Risk Management:- Identify and mitigate risks associated with procurement activities, such as supply chain disruptions, supplier reliability, and compliance issues.
- Develop contingency plans and alternative sourcing strategies to minimize potential risks to the organization.
Team Leadership:- Lead and mentor procurement team members, providing guidance, training, and support to ensure their professional development and performance.
Skillset Required:
- Proven experience in procurement or supply chain management, with a strong understanding of procurement processes, supplier management, and contract negotiation.
- Knowledge of procurement software and tools, such as ERP systems and e-procurement platforms.
- Strong negotiation and communication skills.
- Analytical mindset and strategic thinking abilities.
- Attention to detail and accuracy in procurement processes.
- Ability to build and maintain effective relationships with suppliers and internal stakeholders.
- Proficiency in using procurement software and Microsoft Office applications.