Position Summary:
The Procurement Manager oversees the organization’s procurement processes, ensuring cost-efficient purchasing of goods and services. The role involves developing procurement strategies, negotiating contracts, managing supplier relationships, and ensuring compliance with company policies and industry standards.
Key Responsibilities
Procurement Strategy Development
Develop and implement procurement strategies that align with business objectives.
Conduct market research to identify trends, price benchmarks, and new suppliers.
Establish and maintain procurement policies, procedures, and standards.
Vendor and Supplier Management
Identify, evaluate, and select reliable suppliers and vendors.
Negotiate contracts, terms, and pricing agreements with suppliers.
Build and maintain strong relationships with key suppliers to ensure quality, reliability, and cost-effectiveness.
Monitor supplier performance and address any issues related to delivery, quality, or compliance.
Cost Control and Budget Management
Optimize procurement processes to achieve cost savings while maintaining quality.
Prepare and manage procurement budgets, ensuring expenditures align with approved plans.
Analyze cost structures and identify opportunities for cost reduction
Inventory and Resource Management
Collaborate with inventory management teams to ensure adequate stock levels.
Forecast procurement needs based on production schedules and organizational demand.
Prevent overstocking and understocking through effective planning.
Compliance and Risk Management
Ensure procurement activities comply with company policies, legal standards, and ethical practices.
Mitigate risks by diversifying supplier sources and establishing contingency plans.
Conduct audits of procurement activities to ensure transparency and accountability.
Team Leadership and Development
Lead, mentor, and develop the procurement team to achieve departmental goals.
Assign responsibilities and evaluate team performance.
Foster a culture of continuous improvement and innovation within the procurement team.
Technology and Systems Management
Leverage procurement software and tools to streamline processes.
Maintain accurate records of purchases, contracts, and supplier evaluations.
Analyze data to identify procurement trends and generate actionable insights.
Key Qualifications
Education: Bachelor’s degree in Business Administration, Supply Chain Management, Logistics, or a related field. A master’s degree or certification such as CIPS (Chartered Institute of Procurement & Supply) or CPP (Certified Procurement Professional) is an advantage.
Experience: 5–10 years of experience in procurement or supply chain management, with at least 3 years in a managerial role.
Proven track record of managing procurement operations and achieving cost savings.
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