JOB DESCRIPTION
PROCUREMENT SPECIALIST
In a company's supply chain and procurement processes, a procurement specialist is essential. The management of the procurement process, including finding suppliers, negotiating contracts, and guaranteeing the prompt delivery of goods and services, is within the purview of this role. The Procurement Specialist collaborates closely with several departments to support the aims and objectives of the business, all the while minimizing expenses and upholding high standards of quality.
A Procurement Specialist plays a crucial role in an company's supply chain by making sure that purchases of goods and services are made effectively, economically, and in accordance with the company's ethical standards and regulations. To effectively manage supplier relationships and promote procurement success, this position necessitates a combination of financial acumen, strategic thinking, and excellent interpersonal skills.
Key Responsibility:
- Finding Vendors: Determine and assess possible vendors, contractors, and suppliers. To keep up with price and industry developments, conduct market research. Create and keep an inventory of trustworthy vendors.
-
Management of Contracts and Negotiations: Discuss terms and conditions, such as cost, delivery, and terms of payment, with suppliers.
Ensure that contracts are drafted and managed in accordance with company and legal requirements. Work together with the financial and legal departments to resolve contract and compliance-related concerns. -
Analysis and Optimization of Costs: Examine purchasing information and expenditure trends to find areas where money might be saved.
Put procedures in place to minimize procurement costs without sacrificing quality. Observe and inform pertinent parties about cost-saving measures. -
Relationship management with suppliers: Create and preserve a solid rapport with important suppliers. Handle problems with supplier performance, settle disagreements, and evaluate supplier qualifications.
Review and assess supplier performance on a regular basis based on predetermined standards. - Management of the Procurement Process: Supervise the entire procurement process, including the issuance of purchase orders, the receiving of items, and the requisition. Make ensuring that procurement policies and procedures are followed. Keep thorough records of all transactions and activities related to procurement.
- Risk Control: Determine and evaluate any risks that might be present in the procurement process. Create and put into action plans to reduce risks, like supply chain interruptions. Assure adherence to moral principles and legal obligations.
- Diversity of Vendors and Sustainability: Encourage sustainability and vendor diversity. Work together with suppliers to make sure that social and environmental responsibility guidelines are followed. Assess sustainable procurement methods and provide backing for them.
- Analytics and Reporting: Create reports and give management and stakeholders data pertaining to procurement. To improve decision-making and expedite procedures, make use of procurement software and tools.
Qualifications:
- A business, supply chain management, or similar bachelor's degree (a master's degree is a plus).
- It is beneficial to get professional qualifications like Certified Purchasing Manager (CPM) or Certified Professional in Supply Management (CPSM).
- A track record of success in supply chain management or procurement, together with a thorough understanding of the procedures involved.
- Strong contract administration and negotiating abilities.
- Outstanding ability to analyze and solve problems.
- Knowledge of the tools and software used in procurement.
- Strong interpersonal and communication abilities.
- Awareness of pertinent legal and regulatory obligations.
- The capacity to operate both individually and in a team effectively.
- Both organizational and detail-oriented abilities.