Procurement Executive

1 week ago

Bandra Mumbai Maharashtra, India BIID Full time

**Job Title**: Procurement Executive

**Department**: Procurement / Supply Chain
**Reports To**: Procurement Manager / Head of Procurement
**Location**: Bandra

**Job Summary**:
The Procurement Executive is responsible for managing the purchasing process within an organization. This includes sourcing suppliers, negotiating prices, purchasing goods and services, managing inventory, and ensuring timely delivery. The role requires a detail-oriented individual with strong communication, negotiation, and organizational skills to ensure that the organization receives quality products at competitive prices, while maintaining compliance with company policies and industry regulations.

**Key Responsibilities**:

- **Supplier Sourcing & Selection**:

- Identify, evaluate, and select suppliers based on quality, cost, and reliability.
- Develop and maintain a list of preferred vendors, ensuring a diverse supplier base.
- Conduct market research to stay updated on new suppliers, products, and industry trends.
- Negotiate with suppliers to secure favorable terms, pricing, and delivery schedules.
- **Purchasing & Order Management**:

- Process purchase orders, ensuring all necessary approvals are obtained before making purchases.
- Coordinate with internal departments (e.g., finance, production, warehouse) to understand product needs and forecast demand.
- Monitor the purchasing process to ensure orders are delivered on time, and follow up on delayed shipments.
- Ensure that all purchases are within the allocated budget and meet the organization’s specifications.
- **Inventory Management**:

- Track inventory levels to ensure that the organization maintains adequate stock without overstocking.
- Assist with managing stock levels, reordering materials, and reducing wastage.
- Work with warehouse teams to ensure proper storage, handling, and distribution of goods.
- Maintain records of all procurement activities and inventory levels.
- **Supplier Relationship Management**:

- Build and maintain strong, long-term relationships with suppliers and vendors.
- Address any quality or delivery issues promptly with suppliers and work toward resolution.
- Conduct supplier performance reviews and provide feedback to improve supply chain efficiency.
- **Cost Control & Budgeting**:

- Ensure cost-effectiveness in purchasing decisions and that all procurement activities are within the budget.
- Monitor market trends and product prices to identify cost-saving opportunities.
- Prepare and maintain detailed procurement reports for management on expenditure, savings, and procurement activities.
- **Compliance & Documentation**:

- Ensure all procurement activities comply with company policies, legal requirements, and industry regulations.
- Maintain accurate records of all procurement transactions, supplier contracts, and purchase agreements.
- Assist with audits by providing necessary documentation and supporting procurement policies and processes.
- **Collaboration with Internal Teams**:

- Work closely with other departments (finance, production, marketing, etc.) to understand their procurement needs and ensure timely supply of materials or services.
- Coordinate with logistics teams to ensure the efficient delivery and storage of goods.
- Provide input on product specifications, packaging, and other procurement-related details.

**Required Skills and Qualifications**:

- **Education**:

- Bachelor's degree in Business, Supply Chain Management, Logistics, or a related field (required).
- Professional certifications in procurement (e.g., CIPS) (preferred).
- **Experience**:

- Minimum 2-3 years of experience in procurement or purchasing within a related industry.
- Experience in supplier management, contract negotiations, and inventory control.
- **Skills**:

- Strong negotiation skills to secure competitive pricing and favorable terms.
- Excellent organizational skills, with the ability to prioritize tasks and manage multiple projects.
- Good analytical skills for reviewing pricing, supplier performance, and inventory data.
- Proficiency in Microsoft Office (Excel, Word) and experience with procurement software or ERP systems.
- Strong communication and interpersonal skills to work effectively with suppliers and internal teams.

Pay: ₹15,000.00 - ₹25,000.00 per month

Schedule:

- Day shift

**Experience**:

- Procurement: 3 years (preferred)

Work Location: In person

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