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Procurement Analyst
2 months ago
Role: Procurement Analyst
Experience: 4-6 yaers
Location: Bangalore
Job Summary:
The Procurement Analyst (End-to-End Procurement) is responsible for managing and optimizing the entire procurement process within the organization. This role covers the complete procurement lifecycle, from identifying procurement needs to sourcing suppliers, negotiating contracts, and managing supplier relationships, all the way through to delivery, payment, and performance analysis. The Procurement Analyst plays a key role in ensuring the organization acquires goods and services in a timely, cost-effective, and efficient manner while ensuring compliance with company policies and best practices.
Key Responsibilities:
1. Full Procurement Lifecycle Management
• Needs Identification & Requirements Gathering: Collaborate with internal stakeholders to identify procurement needs and determine specific requirements for products, services, or materials.
• Sourcing & Supplier Selection: Research, identify, and evaluate potential suppliers based on cost, quality, and delivery performance. Issue RFPs (Request for Proposals), RFQs (Request for Quotations), and conduct supplier negotiations.
• Vendor Management & Relationship Building: Develop and manage relationships with key suppliers to ensure long-term success and maintain competitive pricing, reliable deliveries, and high-quality standards.
• Contract Negotiation & Management: Negotiate contracts, pricing, and terms with suppliers. Ensure that contracts are properly executed, monitored, and managed for compliance and performance.
• Order Placement & Management: Create and issue purchase orders, track order progress, and ensure timely delivery of goods/services. Ensure purchase orders are aligned with the approved budget and project timelines.
2. Data Analysis & Reporting
• Market Analysis: Monitor market trends, pricing fluctuations, and changes in supplier offerings to keep procurement strategies current and competitive.
• Procurement Metrics & KPIs: Track procurement performance using key performance indicators (KPIs) such as cost savings, supplier lead times, quality control, and compliance.
• Reporting & Documentation: Maintain accurate records of procurement activities, including purchase orders, supplier contracts, payment schedules, and performance metrics. Provide regular reports on procurement activities to senior management and stakeholders.
3. Cost Management & Budgeting
• Cost Control & Optimization: Monitor and manage procurement costs to ensure adherence to budgets and financial objectives. Identify and implement cost-saving opportunities through strategic sourcing, bulk buying, or supplier consolidation.
• Spend Analysis: Analyze procurement spend data to identify inefficiencies or opportunities for optimization across categories or departments.
4. Supplier Performance & Risk Management
• Supplier Performance Evaluation: Regularly assess supplier performance, including delivery timelines, quality of goods/services, compliance with contract terms, and responsiveness.
• Risk Management: Identify potential risks in the supply chain (e.g., supplier disruptions, price volatility) and develop strategies to mitigate those risks. Work with suppliers and internal stakeholders to resolve issues and minimize impact on operations.
5. Compliance & Process Improvement
• Procurement Policies & Compliance: Ensure that all procurement activities comply with company policies, legal regulations, and ethical standards.
• Continuous Improvement: Recommend and implement process improvements within the procurement cycle to increase efficiency, reduce costs, and improve service levels. Stay updated on industry best practices and emerging procurement trends.
• Audits & Controls: Assist with internal and external audits of procurement practices and documentation to ensure compliance and best practice adherence.
Qualifications & Skills:
Education:
• Bachelor’s degree in Business Administration, Supply Chain Management, Logistics, or a related field.
• Professional certifications (e.g., CPSM (Certified Professional in Supply Management), CIPS (Chartered Institute of Procurement & Supply), or equivalent) are preferred but not required.
Experience:
• Minimum of 4 years of experience in procurement, supply chain management, or a related field, with a strong understanding of end-to-end procurement processes.
• Proven experience in supplier negotiation, purchasing, and contract management.
• Experience working with procurement software tools (e.g., SAP, Oracle, Coupa, Ariba) and Microsoft Office Suite (Excel, PowerPoint, Word).
Skills:
• Procurement Process Expertise: Strong understanding of the full procurement cycle, from requirements gathering to supplier evaluation, order management, and performance monitoring.
• Negotiation & Vendor Management: Excellent negotiation skills with a proven ability to secure favorable terms and build strong supplier relationships.
• Analytical Skills: Ability to analyse procurement data, identify trends, and provide actionable insights to improve efficiency and cost-effectiveness.
• Attention to Detail: Strong attention to detail in managing contracts, orders, and supplier performance metrics.
• Financial Acumen: Understanding of budgeting, cost management, and financial forecasting in relation to procurement activities.
• Communication Skills: Strong written and verbal communication skills, with the ability to present procurement findings and recommendations to senior management.
• Problem-Solving: Proactive and solutions-oriented approach to addressing procurement issues and supply chain challenges.
Soft Skills:
• Strong organizational skills and the ability to manage multiple priorities in a fast-paced environment.
• Ability to work effectively both independently and in a team setting.
• Adaptability to changes in procurement strategy, supplier performance, and market conditions.
•Strong interpersonal skills to manage cross-functional relationships and collaborate with stakeholders across the business.
