Purchase Executive

Job Title:
Purchase Executive (HRS)

Reports To:
Purchase Manager

Job Overview:
The Procurement Executive plays a key role in managing the procurement process for goods and services required for business operations. This role ensures that the organisation acquires high-quality products and services at competitive prices, while adhering to defined timelines and budgetary constraints.

Key Responsibilities:

• Purchase Order Management: Create and send Purchase Orders (POs), track POs in various stages (processing, processed, rejected, flagged for issues), and provide support to all departments regarding POs.
• Strategic Sourcing: Develop and implement sourcing strategies to identify potential suppliers, evaluate their capabilities, and negotiate favourable contracts to meet the organisation’s procurement needs.
• Supplier Management: Build and maintain strong supplier relationships to ensure timely deliveries, resolve issues, and assess supplier performance regularly.
• Cost Control: Monitor procurement budgets to ensure cost-effectiveness, adherence to financial guidelines, and alignment with overall budgetary goals.
• Inventory Management: Collaborate with the Store department to optimise inventory levels, maintain adequate stock, and reduce excess inventory costs.
• Market Research: Stay informed about market trends and emerging products to make informed purchasing decisions and identify cost-saving opportunities.
• Contract Negotiation: Negotiate favourable terms, including pricing, payment terms, delivery schedules, and service level agreements with suppliers.
• Vendor Selection: Evaluate potential vendors through supplier audits and assessments to ensure they meet quality and service standards.
• Procurement Process Improvement: Analyse and improve procurement processes to enhance efficiency and reduce lead time.
• Supplier Performance Evaluation: Regularly evaluate supplier performance to ensure they meet standards for quality, delivery, and service.
• Compliance: Ensure procurement activities comply with internal policies, legal regulations, and ethical standards.

Qualifications:

• Bachelor's degree in Business Administration, Supply Chain Management, Procurement, or a related field. Advanced degrees or relevant certifications (e.g., CSCP, CPSM) are a plus.
• Minimum of 2 years of relevant experience in procurement or supply chain management, particularly in high-volume manufacturing.
• Strong knowledge of procurement principles, sourcing strategies, contract negotiation, and supplier management.
• Familiarity with procurement and inventory management software and tools.
• Ability to analyse data, identify trends, and make data-driven decisions to optimise procurement strategies.
• Excellent communication and negotiation skills to interact effectively with suppliers and internal stakeholders.
• Ability to prioritise and manage multiple tasks efficiently while maintaining attention to detail.
• Proactive and solution-oriented approach to addressing procurement challenges.