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Purchase Manager

2 months ago

Hyderabad, India Lifespan Private Limited Full time

Position Overview: We are seeking a skilled and experienced Purchase Manager to oversee the procurement operations within our nutraceutical company. The Purchase Manager will be responsible for sourcing, negotiating, and purchasing raw materials, packaging materials, equipment, and services required for the production of nutraceutical products. The ideal candidate will have a strong background in procurement within the nutraceutical or related industries, excellent negotiation skills, and a proactive approach to vendor management.

Key Responsibilities:

  • Strategic Sourcing:
  • Develop and implement sourcing strategies to ensure cost-effective procurement of raw materials, packaging materials, equipment, and services.
  • Identify and evaluate potential suppliers/vendors, conducting thorough assessments of their capabilities, reliability, and quality standards.
  • Continuously monitor market trends, supplier performance, and industry developments to identify opportunities for cost savings and process improvements.
  • Vendor Management:
  • Build and maintain strong relationships with suppliers/vendors, negotiating favorable terms and conditions to optimize pricing, quality, and delivery schedules.
  • Conduct regular vendor performance evaluations, addressing any issues or discrepancies in a timely manner.
  • Collaborate with suppliers/vendors to resolve any quality or delivery issues, ensuring uninterrupted supply chain operations.
  • Purchase Planning and Execution:
  • Work closely with the production team to understand inventory requirements and production schedules, ensuring timely procurement of materials to meet production targets.
  • Develop purchase plans and schedules based on production forecasts, inventory levels, and lead times, minimizing excess inventory and stockouts.
  • Coordinate with internal stakeholders, including production, quality control, and finance departments, to align procurement activities with organizational goals and objectives.
  • Cost Optimization:
  • Analyze pricing trends, market conditions, and supplier quotations to identify opportunities for cost reduction and value enhancement.
  • Implement cost-saving initiatives, such as bulk purchasing, alternative sourcing, and vendor consolidation, without compromising quality or service levels.
  • Monitor and control procurement expenses, adhering to budgetary constraints and financial targets set by the management.
  • Compliance and Documentation:
  • Ensure compliance with relevant regulatory requirements, industry standards, and company policies in all procurement activities.
  • Maintain accurate records of purchase transactions, contracts, and supplier agreements, ensuring proper documentation and traceability.
  • Collaborate with the legal and compliance teams to review and negotiate contractual terms, mitigating risks and liabilities associated with procurement activities.

Qualifications and Skills:

  • Bachelor's degree in supply chain management, business administration, or a related field. Advanced degree or professional certifications (e.g., CSCP, CPSM) is a plus.
  • Proven experience (5+ years) in procurement, sourcing, or supply chain management, preferably in the nutraceutical or pharmaceutical industry.
  • Strong negotiation skills with the ability to drive favorable terms and conditions with suppliers/vendors.
  • In-depth knowledge of procurement processes, contract management, and vendor relationship management.
  • Excellent analytical and problem-solving abilities, with a data-driven approach to decision-making.
  • Proficiency in using procurement software, ERP systems, and Microsoft Office suite.
  • Effective communication and interpersonal skills, with the ability to collaborate cross-functionally and influence key stakeholders.
  • Strong organizational skills with attention to detail and the ability to manage multiple priorities in a fast-paced environment.